Erp Operating LTD Partnership 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Entity Registrant Name	EQUITY RESIDENTIAL
Entity Central Index Key	906,107
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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		365,556,105
OPERATING PARTNERSHIP
Entity Registrant Name	ERP OPERATING LIMITED PARTNERSHIP
Entity Central Index Key	931,182
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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 (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment in real estate
Land	$ 5,835,195	$ 5,864,046
Depreciable property	18,474,391	18,037,087
Projects under development	799,947	1,122,376
Land held for development	138,221	158,843
Investment in real estate	25,247,754	25,182,352
Accumulated depreciation	(5,119,342)	(4,905,406)
Investment in real estate, net	20,128,412	20,276,946
Real estate held for sale	0	2,181,135
Cash and cash equivalents	497,843	42,276
Investments in unconsolidated entities	65,952	68,101
Deposits – restricted	77,587	55,893
Escrow deposits – mortgage	61,711	56,946
Other assets	398,417	428,899
Total assets	21,229,922	23,110,196
Liabilities:
Mortgage notes payable, net	4,147,999	4,685,134
Notes, net	4,362,995	5,848,956
Line of credit and commercial paper	0	387,276
Accounts payable and accrued expenses	186,629	187,124
Accrued interest payable	58,175	85,221
Other liabilities	333,551	366,387
Security deposits	64,242	77,582
Distributions payable	191,403	209,378
Total liabilities	9,344,994	11,847,058
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	478,324	566,783
Shareholders’ equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of June 30, 2016 and December 31, 2015	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 365,550,636 shares issued and outstanding as of June 30, 2016 and 364,755,444 shares issued and outstanding as of December 31, 2015	3,656	3,648
Paid in capital	8,718,365	8,572,365
Retained earnings	2,524,788	2,009,091
Accumulated other comprehensive (loss)	(123,511)	(152,016)
Total shareholders’ equity	11,160,578	10,470,368
Noncontrolling Interests:
Operating Partnership	241,748	221,379
Noncontrolling Interests – Partially Owned Properties	4,278	4,608
Total Noncontrolling Interests	246,026	225,987
Total equity	11,406,604	10,696,355
Total liabilities and equity	$ 21,229,922	$ 23,110,196

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
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	745,600
Preferred Shares of beneficial interest, shares outstanding	745,600	745,600
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	365,550,636	364,755,444
Common Shares of beneficial interest, shares outstanding	365,550,636	364,755,444

CONSOLIDATED BALANCE SHEETS OF

CONSOLIDATED BALANCE SHEETS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investment in real estate
Land	$ 5,835,195	$ 5,864,046
Depreciable property	18,474,391	18,037,087
Projects under development	799,947	1,122,376
Land held for development	138,221	158,843
Investment in real estate	25,247,754	25,182,352
Accumulated depreciation	(5,119,342)	(4,905,406)
Investment in real estate, net	20,128,412	20,276,946
Real estate held for sale	0	2,181,135
Cash and cash equivalents	497,843	42,276
Investments in unconsolidated entities	65,952	68,101
Deposits – restricted	77,587	55,893
Escrow deposits – mortgage	61,711	56,946
Other assets	398,417	428,899
Total assets	21,229,922	23,110,196
Liabilities:
Mortgage notes payable, net	4,147,999	4,685,134
Notes, net	4,362,995	5,848,956
Line of credit and commercial paper	0	387,276
Accounts payable and accrued expenses	186,629	187,124
Accrued interest payable	58,175	85,221
Other liabilities	333,551	366,387
Security deposits	64,242	77,582
Distributions payable	191,403	209,378
Total liabilities	9,344,994	11,847,058
Commitments and contingencies
Partners' Capital:
Accumulated other comprehensive (loss)	(123,511)	(152,016)
Noncontrolling Interests – Partially Owned Properties	4,278	4,608
Total liabilities and equity	21,229,922	23,110,196
ERPOP [Member]
Investment in real estate
Land	5,835,195	5,864,046
Depreciable property	18,474,391	18,037,087
Projects under development	799,947	1,122,376
Land held for development	138,221	158,843
Investment in real estate	25,247,754	25,182,352
Accumulated depreciation	(5,119,342)	(4,905,406)
Investment in real estate, net	20,128,412	20,276,946
Real estate held for sale	0	2,181,135
Cash and cash equivalents	497,843	42,276
Investments in unconsolidated entities	65,952	68,101
Deposits – restricted	77,587	55,893
Escrow deposits – mortgage	61,711	56,946
Other assets	398,417	428,899
Total assets	21,229,922	23,110,196
Liabilities:
Mortgage notes payable, net	4,147,999	4,685,134
Notes, net	4,362,995	5,848,956
Line of credit and commercial paper	0	387,276
Accounts payable and accrued expenses	186,629	187,124
Accrued interest payable	58,175	85,221
Other liabilities	333,551	366,387
Security deposits	64,242	77,582
Distributions payable	191,403	209,378
Total liabilities	9,344,994	11,847,058
Commitments and contingencies
Redeemable Limited Partners	478,324	566,783
Partners' Capital:
Preference Units	37,280	37,280
General Partner	11,246,809	10,585,104
Limited Partners	241,748	221,379
Accumulated other comprehensive (loss)	(123,511)	(152,016)
Total partners' capital	11,402,326	10,691,747
Noncontrolling Interests – Partially Owned Properties	4,278	4,608
Total capital	11,406,604	10,696,355
Total liabilities and equity	$ 21,229,922	$ 23,110,196

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUES
Rental income	$ 594,939	$ 676,508	$ 1,211,104	$ 1,341,114
Fee and asset management	215	2,604	3,133	4,369
Total revenues	595,154	679,112	1,214,237	1,345,483
EXPENSES
Property and maintenance	96,307	118,005	205,472	242,565
Real estate taxes and insurance	77,415	83,119	157,611	169,551
Property management	20,991	21,792	44,486	44,557
General and administrative	18,296	15,659	35,013	35,421
Depreciation	176,127	194,282	349,012	388,803
Total expenses	389,136	432,857	791,594	880,897
Operating income	206,018	246,255	422,643	464,586
Interest and other income	56,525	6,481	59,583	6,650
Other expenses	(1,504)	(1,770)	(4,060)	(1,700)
Interest:
Expense incurred, net	(86,472)	(110,866)	(299,964)	(219,648)
Amortization of deferred financing costs	(2,345)	(2,538)	(7,739)	(5,127)
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	172,222	137,562	170,463	244,761
Income and other tax (expense) benefit	(413)	(326)	(763)	(369)
(Loss) income from investments in unconsolidated entities	(800)	12,466	(1,904)	15,429
Net gain on sales of real estate properties	57,356	148,802	3,780,835	228,753
Net gain (loss) on sales of land parcels	0	0	11,722	(1)
Income from continuing operations	228,365	298,504	3,960,353	488,573
Discontinued operations, net	35	114	(122)	269
Net income	228,400	298,618	3,960,231	488,842
Net (income) attributable to Noncontrolling Interests:
Net (income) attributable to Noncontrolling Interests	(8,780)	(11,354)	(152,089)	(18,413)
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties	(781)	(844)	(1,545)	(1,487)
Net income attributable to controlling interests	218,839	286,420	3,806,597	468,942
Preferred distributions	(772)	(833)	(1,545)	(1,724)
Premium on redemption of Preferred Shares	0	0	0	(2,789)
Net income available to Common Shares	$ 218,067	$ 285,587	$ 3,805,052	$ 464,429
Earnings per share – basic:
Income from continuing operations available to Common Shares	$ 0.60	$ 0.79	$ 10.43	$ 1.28
Net income available to Common Shares	$ 0.60	$ 0.79	$ 10.43	$ 1.28
Weighted average Common Shares outstanding	365,047	363,476	364,820	363,288
Earnings per share – diluted:
Income from continuing operations available to Common Shares	$ 0.59	$ 0.78	$ 10.36	$ 1.27
Net income available to Common Shares	$ 0.59	$ 0.78	$ 10.36	$ 1.27
Weighted Average Number of Shares/Units Outstanding, Diluted	382,065	380,491	382,012	380,346
Distributions declared per Common Share outstanding	$ 0.50375	$ 0.5525	$ 9.0075	$ 1.105

CONSOLIDATED STATEMENTS OF OPE6

CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUES
Rental income	$ 594,939	$ 676,508	$ 1,211,104	$ 1,341,114
Fee and asset management	215	2,604	3,133	4,369
Total revenues	595,154	679,112	1,214,237	1,345,483
EXPENSES
Property and maintenance	96,307	118,005	205,472	242,565
Real estate taxes and insurance	77,415	83,119	157,611	169,551
Property management	20,991	21,792	44,486	44,557
General and administrative	18,296	15,659	35,013	35,421
Depreciation	176,127	194,282	349,012	388,803
Total expenses	389,136	432,857	791,594	880,897
Operating income	206,018	246,255	422,643	464,586
Interest and other income	56,525	6,481	59,583	6,650
Other expenses	(1,504)	(1,770)	(4,060)	(1,700)
Interest:
Expense incurred, net	(86,472)	(110,866)	(299,964)	(219,648)
Amortization of deferred financing costs	(2,345)	(2,538)	(7,739)	(5,127)
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	172,222	137,562	170,463	244,761
Income and other tax (expense) benefit	(413)	(326)	(763)	(369)
(Loss) income from investments in unconsolidated entities	(800)	12,466	(1,904)	15,429
Net gain on sales of real estate properties	57,356	148,802	3,780,835	228,753
Net gain (loss) on sales of land parcels	0	0	11,722	(1)
Income from continuing operations	228,365	298,504	3,960,353	488,573
Discontinued operations, net	35	114	(122)	269
Net income	228,400	298,618	3,960,231	488,842
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties	(781)	(844)	(1,545)	(1,487)
Net income attributable to controlling interests	218,839	286,420	3,806,597	468,942
ALLOCATION OF NET INCOME:
Premium on redemption of Preference Units	$ 0	$ 0	$ 0	$ (2,789)
Earnings per Unit – basic:
Income from continuing operations available to Units	$ 0.60	$ 0.79	$ 10.43	$ 1.28
Net income available to Units	0.60	0.79	10.43	1.28
Earnings per Unit – diluted:
Income from continuing operations available to Units	0.59	0.78	10.36	1.27
Net income available to Units	$ 0.59	$ 0.78	$ 10.36	$ 1.27
Weighted Average Number of Shares/Units Outstanding, Diluted	382,065	380,491	382,012	380,346
ERPOP [Member]
REVENUES
Rental income	$ 594,939	$ 676,508	$ 1,211,104	$ 1,341,114
Fee and asset management	215	2,604	3,133	4,369
Total revenues	595,154	679,112	1,214,237	1,345,483
EXPENSES
Property and maintenance	96,307	118,005	205,472	242,565
Real estate taxes and insurance	77,415	83,119	157,611	169,551
Property management	20,991	21,792	44,486	44,557
General and administrative	18,296	15,659	35,013	35,421
Depreciation	176,127	194,282	349,012	388,803
Total expenses	389,136	432,857	791,594	880,897
Operating income	206,018	246,255	422,643	464,586
Interest and other income	56,525	6,481	59,583	6,650
Other expenses	(1,504)	(1,770)	(4,060)	(1,700)
Interest:
Expense incurred, net	(86,472)	(110,866)	(299,964)	(219,648)
Amortization of deferred financing costs	(2,345)	(2,538)	(7,739)	(5,127)
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	172,222	137,562	170,463	244,761
Income and other tax (expense) benefit	(413)	(326)	(763)	(369)
(Loss) income from investments in unconsolidated entities	(800)	12,466	(1,904)	15,429
Net gain on sales of real estate properties	57,356	148,802	3,780,835	228,753
Net gain (loss) on sales of land parcels	0	0	11,722	(1)
Income from continuing operations	228,365	298,504	3,960,353	488,573
Discontinued operations, net	35	114	(122)	269
Net income	228,400	298,618	3,960,231	488,842
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties	(781)	(844)	(1,545)	(1,487)
Net income attributable to controlling interests	227,619	297,774	3,958,686	487,355
ALLOCATION OF NET INCOME:
Preference Units	772	833	1,545	1,724
Premium on redemption of Preference Units	0	0	0	2,789
General Partner	218,067	285,587	3,805,052	464,429
Limited Partners	8,780	11,354	152,089	18,413
Net income available to Units	$ 226,847	$ 296,941	$ 3,957,141	$ 482,842
Earnings per Unit – basic:
Income from continuing operations available to Units	$ 0.60	$ 0.79	$ 10.43	$ 1.28
Net income available to Units	$ 0.60	$ 0.79	$ 10.43	$ 1.28
Weighted average Units outstanding	378,934	377,063	378,612	376,880
Earnings per Unit – diluted:
Income from continuing operations available to Units	$ 0.59	$ 0.78	$ 10.36	$ 1.27
Net income available to Units	$ 0.59	$ 0.78	$ 10.36	$ 1.27
Weighted Average Number of Shares/Units Outstanding, Diluted	382,065	380,491	382,012	380,346
Distributions declared per Unit outstanding	$ 0.50375	$ 0.5525	$ 9.0075	$ 1.105

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Comprehensive income:
Net income	$ 228,400	$ 298,618	$ 3,960,231	$ 488,842
Other comprehensive (loss) income – derivative instruments:
Unrealized holding (losses) gains arising during the period	(1,561)	11,676	(4,467)	(112)
Losses reclassified into earnings from other comprehensive income	4,268	4,573	32,922	8,911
Other comprehensive income (loss) – foreign currency:
Currency translation adjustments arising during the period	(25)	(82)	50	(502)
Other comprehensive income	2,682	16,167	28,505	8,297
Comprehensive income	231,082	314,785	3,988,736	497,139
Comprehensive (income) attributable to Noncontrolling Interests	(9,664)	(12,817)	(154,734)	(20,219)
Comprehensive income attributable to controlling interests	$ 221,418	$ 301,968	$ 3,834,002	$ 476,920

CONSOLIDATED STATEMENTS OF COM8

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Comprehensive income:
Net income	$ 228,400	$ 298,618	$ 3,960,231	$ 488,842
Other comprehensive (loss) income – derivative instruments:
Unrealized holding (losses) gains arising during the period	(1,561)	11,676	(4,467)	(112)
Losses reclassified into earnings from other comprehensive income	4,268	4,573	32,922	8,911
Other comprehensive income (loss) – foreign currency:
Currency translation adjustments arising during the period	(25)	(82)	50	(502)
Other comprehensive income	2,682	16,167	28,505	8,297
Comprehensive income	231,082	314,785	3,988,736	497,139
Comprehensive (income) attributable to Noncontrolling Interests – Partially Owned Properties	(9,664)	(12,817)	(154,734)	(20,219)
Comprehensive income attributable to controlling interests	221,418	301,968	3,834,002	476,920
ERPOP [Member]
Comprehensive income:
Net income	228,400	298,618	3,960,231	488,842
Other comprehensive (loss) income – derivative instruments:
Unrealized holding (losses) gains arising during the period	(1,561)	11,676	(4,467)	(112)
Losses reclassified into earnings from other comprehensive income	4,268	4,573	32,922	8,911
Other comprehensive income (loss) – foreign currency:
Currency translation adjustments arising during the period	(25)	(82)	50	(502)
Other comprehensive income	2,682	16,167	28,505	8,297
Comprehensive income	231,082	314,785	3,988,736	497,139
Comprehensive (income) attributable to Noncontrolling Interests – Partially Owned Properties	(781)	(844)	(1,545)	(1,487)
Comprehensive income attributable to controlling interests	$ 230,301	$ 313,941	$ 3,987,191	$ 495,652

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,960,231	$ 488,842
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	349,012	388,803
Amortization of deferred financing costs	7,739	5,127
Amortization of above/below market leases	1,708	1,691
Amortization of discounts and premiums on debt	(19,010)	(5,611)
Amortization of deferred settlements on derivative instruments	32,850	8,751
Write-off of pursuit costs	2,563	1,651
Loss (income) from investments in unconsolidated entities	1,904	(15,429)
Distributions from unconsolidated entities – return on capital	1,482	2,193
Net (gain) on sales of investment securities and other investments	(55,156)	(387)
Net (gain) on sales of real estate properties	(3,780,835)	(228,753)
Net (gain) loss on sales of land parcels	(11,722)	1
Net (gain) on sales of discontinued operations	(15)	0
Realized/unrealized loss on derivative instruments	0	51
Compensation paid with Company Common Shares	20,729	24,017
Changes in assets and liabilities:
Decrease (increase) in deposits – restricted	9,121	(288)
(Increase) in mortgage deposits	(840)	(382)
Decrease (increase) in other assets	29,944	(4,553)
Increase in accounts payable and accrued expenses	7,837	22,350
(Decrease) in accrued interest payable	(27,046)	(2,409)
(Decrease) in other liabilities	(42,080)	(11,097)
(Decrease) increase in security deposits	(13,340)	479
Net cash provided by operating activities	475,076	675,047
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(160,680)	(136,995)
Investment in real estate – development/other	(312,853)	(324,343)
Capital expenditures to real estate	(74,450)	(81,962)
Non-real estate capital additions	(3,259)	(1,955)
Interest capitalized for real estate under development	(28,386)	(30,432)
Proceeds from disposition of real estate, net	6,415,181	379,863
Investments in unconsolidated entities	(1,829)	(4,786)
Distributions from unconsolidated entities – return of capital	524	26,147
Proceeds from sale of investment securities and other investments	68,528	387
(Increase) in deposits on real estate acquisitions and investments, net	(30,815)	(31,247)
Decrease (increase) in mortgage deposits	46	(226)
Net cash provided by (used for) investing activities	5,872,007	(205,549)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(437)	(6,352)
Mortgage deposits	(3,971)	(4,169)
Mortgage notes payable, net:
Lump sum payoffs	(556,499)	(121,488)
Scheduled principal repayments	(4,740)	(5,028)
Notes, net:
Proceeds	0	746,391
Lump sum payoffs	(1,500,000)	(300,000)
Line of credit and commercial paper:
Line of credit proceeds	246,000	3,553,000
Line of credit repayments	(246,000)	(3,886,000)
Commercial paper proceeds	1,324,784	2,266,924
Commercial paper repayments	(1,712,472)	(2,267,500)
(Payments on) settlement of derivative instruments	0	(13,938)
Proceeds from Employee Share Purchase Plan (ESPP)	2,023	2,610
Proceeds from exercise of options	26,141	33,984
Redemption of Preferred Shares	0	(9,820)
Premium on redemption of Preferred Shares	0	(2,789)
Payment of offering costs	0	(40)
Other financing activities, net	(33)	(33)
Contributions – Noncontrolling Interests – Operating Partnership	1	1
Distributions:
Common Shares	(3,306,704)	(382,441)
Preferred Shares	(1,545)	(1,724)
Noncontrolling Interests – Operating Partnership	(130,383)	(15,062)
Noncontrolling Interests – Partially Owned Properties	(27,681)	(3,995)
Net cash (used for) financing activities	(5,891,516)	(417,469)
Net increase in cash and cash equivalents	455,567	52,029
Cash and cash equivalents, beginning of period	42,276	40,080
Cash and cash equivalents, end of period	497,843	92,109
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	313,480	218,965
Net cash paid for income and other taxes	1,166	895
Real estate acquisitions/dispositions/other:
Mortgage loans assumed	43,400	0
Amortization of deferred financing costs:
Other assets	1,527	1,527
Mortgage notes payable, net	2,617	1,607
Notes, net	3,595	1,993
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	(21,476)	(7,420)
Notes, net	2,054	1,233
Line of credit and commercial paper	412	576
Amortization of deferred settlements on derivative instruments:
Other liabilities	(72)	(160)
Accumulated other comprehensive income	32,922	8,911
Write-off of pursuit costs:
Investment in real estate, net	2,072	1,260
Deposits – restricted	0	330
Other assets	390	61
Accounts payable and accrued expenses	101	0
Loss (income) from investments in unconsolidated entities:
Investments in unconsolidated entities	1,122	(16,767)
Other liabilities	782	1,338
Distributions from unconsolidated entities – return on capital:
Investments in unconsolidated entities	1,482	2,125
Other liabilities	0	68
Realized/unrealized loss on derivative instruments:
Other assets	(8,390)	(3,873)
Notes, net	8,390	2,358
Other liabilities	4,467	1,678
Unrealized holding (losses) gains arising during the period	(4,467)	(112)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(929)	(1,291)
Other liabilities	(900)	(3,495)
Debt financing costs:
Mortgage notes payable, net	(437)	0
Notes, net	0	(6,352)
Other:
Foreign currency translation adjustments	$ (50)	$ 502

CONSOLIDATED STATEMENTS OF CA10

CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,960,231	$ 488,842
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	349,012	388,803
Amortization of deferred financing costs	7,739	5,127
Amortization of above/below market leases	1,708	1,691
Amortization of discounts and premiums on debt	(19,010)	(5,611)
Amortization of deferred settlements on derivative instruments	32,850	8,751
Write-off of pursuit costs	2,563	1,651
Loss (income) from investments in unconsolidated entities	1,904	(15,429)
Distributions from unconsolidated entities – return on capital	1,482	2,193
Net (gain) on sales of investment securities and other investments	(55,156)	(387)
Net (gain) on sales of real estate properties	(3,780,835)	(228,753)
Net (gain) loss on sales of land parcels	(11,722)	1
Net (gain) on sales of discontinued operations	(15)	0
Realized/unrealized loss on derivative instruments	0	51
Compensation paid with Company Common Shares	20,729	24,017
Changes in assets and liabilities:
Decrease (increase) in deposits – restricted	9,121	(288)
(Increase) in mortgage deposits	(840)	(382)
Decrease (increase) in other assets	29,944	(4,553)
Increase in accounts payable and accrued expenses	7,837	22,350
(Decrease) in accrued interest payable	(27,046)	(2,409)
(Decrease) in other liabilities	(42,080)	(11,097)
(Decrease) increase in security deposits	(13,340)	479
Net cash provided by operating activities	475,076	675,047
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(160,680)	(136,995)
Investment in real estate – development/other	(312,853)	(324,343)
Capital expenditures to real estate	(74,450)	(81,962)
Non-real estate capital additions	(3,259)	(1,955)
Interest capitalized for real estate under development	(28,386)	(30,432)
Proceeds from disposition of real estate, net	6,415,181	379,863
Investments in unconsolidated entities	(1,829)	(4,786)
Distributions from unconsolidated entities – return of capital	524	26,147
Proceeds from sale of investment securities and other investments	68,528	387
(Increase) in deposits on real estate acquisitions and investments, net	(30,815)	(31,247)
Decrease (increase) in mortgage deposits	46	(226)
Net cash provided by (used for) investing activities	5,872,007	(205,549)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(437)	(6,352)
Mortgage deposits	(3,971)	(4,169)
Mortgage notes payable, net:
Lump sum payoffs	(556,499)	(121,488)
Scheduled principal repayments	(4,740)	(5,028)
Notes, net:
Proceeds	0	746,391
Lump sum payoffs	(1,500,000)	(300,000)
Line of credit and commercial paper:
Line of credit proceeds	246,000	3,553,000
Line of credit repayments	(246,000)	(3,886,000)
Commercial paper proceeds	1,324,784	2,266,924
Commercial paper repayments	(1,712,472)	(2,267,500)
(Payments on) settlement of derivative instruments	0	(13,938)
Proceeds from EQR's Employee Share Purchase Plan (ESPP)	2,023	2,610
Proceeds from exercise of options	26,141	33,984
Redemption of Preference Units	0	(9,820)
Premium on redemption of Preference Units	0	(2,789)
Payment of offering costs	0	(40)
Other financing activities, net	(33)	(33)
Contributions – Limited Partners	1	1
Distributions:
Noncontrolling Interests – Partially Owned Properties	(27,681)	(3,995)
Net cash (used for) financing activities	(5,891,516)	(417,469)
Net increase in cash and cash equivalents	455,567	52,029
Cash and cash equivalents, beginning of period	42,276	40,080
Cash and cash equivalents, end of period	497,843	92,109
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	313,480	218,965
Net cash paid for income and other taxes	1,166	895
Real estate acquisitions/dispositions/other:
Mortgage loans assumed	43,400	0
Amortization of deferred financing costs:
Other assets	1,527	1,527
Mortgage notes payable, net	2,617	1,607
Notes, net	3,595	1,993
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	(21,476)	(7,420)
Notes, net	2,054	1,233
Line of credit and commercial paper	412	576
Amortization of deferred settlements on derivative instruments:
Other liabilities	(72)	(160)
Accumulated other comprehensive income	32,922	8,911
Write-off of pursuit costs:
Investment in real estate, net	2,072	1,260
Deposits – restricted	0	330
Other assets	390	61
Accounts payable and accrued expenses	101	0
Loss (income) from investments in unconsolidated entities:
Investments in unconsolidated entities	1,122	(16,767)
Other liabilities	782	1,338
Distributions from unconsolidated entities – return on capital:
Investments in unconsolidated entities	1,482	2,125
Other liabilities	0	68
Realized/unrealized loss on derivative instruments:
Other assets	(8,390)	(3,873)
Notes, net	8,390	2,358
Other liabilities	4,467	1,678
Unrealized holding (losses) gains arising during the period	(4,467)	(112)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(929)	(1,291)
Other liabilities	(900)	(3,495)
Debt financing costs:
Mortgage notes payable, net	(437)	0
Notes, net	0	(6,352)
Other:
Foreign currency translation adjustments	(50)	502
ERPOP [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	3,960,231	488,842
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	349,012	388,803
Amortization of deferred financing costs	7,739	5,127
Amortization of above/below market leases	1,708	1,691
Amortization of discounts and premiums on debt	(19,010)	(5,611)
Amortization of deferred settlements on derivative instruments	32,850	8,751
Write-off of pursuit costs	2,563	1,651
Loss (income) from investments in unconsolidated entities	1,904	(15,429)
Distributions from unconsolidated entities – return on capital	1,482	2,193
Net (gain) on sales of investment securities and other investments	(55,156)	(387)
Net (gain) on sales of real estate properties	(3,780,835)	(228,753)
Net (gain) loss on sales of land parcels	(11,722)	1
Net (gain) on sales of discontinued operations	(15)	0
Realized/unrealized loss on derivative instruments	0	51
Compensation paid with Company Common Shares	20,729	24,017
Changes in assets and liabilities:
Decrease (increase) in deposits – restricted	9,121	(288)
(Increase) in mortgage deposits	(840)	(382)
Decrease (increase) in other assets	29,944	(4,553)
Increase in accounts payable and accrued expenses	7,837	22,350
(Decrease) in accrued interest payable	(27,046)	(2,409)
(Decrease) in other liabilities	(42,080)	(11,097)
(Decrease) increase in security deposits	(13,340)	479
Net cash provided by operating activities	475,076	675,047
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(160,680)	(136,995)
Investment in real estate – development/other	(312,853)	(324,343)
Capital expenditures to real estate	(74,450)	(81,962)
Non-real estate capital additions	(3,259)	(1,955)
Interest capitalized for real estate under development	(28,386)	(30,432)
Proceeds from disposition of real estate, net	6,415,181	379,863
Investments in unconsolidated entities	(1,829)	(4,786)
Distributions from unconsolidated entities – return of capital	524	26,147
Proceeds from sale of investment securities and other investments	68,528	387
(Increase) in deposits on real estate acquisitions and investments, net	(30,815)	(31,247)
Decrease (increase) in mortgage deposits	46	(226)
Net cash provided by (used for) investing activities	5,872,007	(205,549)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs	(437)	(6,352)
Mortgage deposits	(3,971)	(4,169)
Mortgage notes payable, net:
Lump sum payoffs	(556,499)	(121,488)
Scheduled principal repayments	(4,740)	(5,028)
Notes, net:
Proceeds	0	746,391
Lump sum payoffs	(1,500,000)	(300,000)
Line of credit and commercial paper:
Line of credit proceeds	246,000	3,553,000
Line of credit repayments	(246,000)	(3,886,000)
Commercial paper proceeds	1,324,784	2,266,924
Commercial paper repayments	(1,712,472)	(2,267,500)
(Payments on) settlement of derivative instruments	0	(13,938)
Proceeds from EQR's Employee Share Purchase Plan (ESPP)	2,023	2,610
Proceeds from exercise of options	26,141	33,984
Redemption of Preference Units	0	(9,820)
Premium on redemption of Preference Units	0	(2,789)
Payment of offering costs	0	(40)
Other financing activities, net	(33)	(33)
Contributions – Limited Partners	1	1
Distributions:
OP Units – General Partner	(3,306,704)	(382,441)
Preference Units	(1,545)	(1,724)
OP Units – Limited Partners	(130,383)	(15,062)
Noncontrolling Interests – Partially Owned Properties	(27,681)	(3,995)
Net cash (used for) financing activities	(5,891,516)	(417,469)
Net increase in cash and cash equivalents	455,567	52,029
Cash and cash equivalents, beginning of period	42,276	40,080
Cash and cash equivalents, end of period	497,843	92,109
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	313,480	218,965
Net cash paid for income and other taxes	1,166	895
Real estate acquisitions/dispositions/other:
Mortgage loans assumed	43,400	0
Amortization of deferred financing costs:
Other assets	1,527	1,527
Mortgage notes payable, net	2,617	1,607
Notes, net	3,595	1,993
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	(21,476)	(7,420)
Notes, net	2,054	1,233
Line of credit and commercial paper	412	576
Amortization of deferred settlements on derivative instruments:
Other liabilities	(72)	(160)
Accumulated other comprehensive income	32,922	8,911
Write-off of pursuit costs:
Investment in real estate, net	2,072	1,260
Deposits – restricted	0	330
Other assets	390	61
Accounts payable and accrued expenses	101	0
Loss (income) from investments in unconsolidated entities:
Investments in unconsolidated entities	1,122	(16,767)
Other liabilities	782	1,338
Distributions from unconsolidated entities – return on capital:
Investments in unconsolidated entities	1,482	2,125
Other liabilities	0	68
Realized/unrealized loss on derivative instruments:
Other assets	(8,390)	(3,873)
Notes, net	8,390	2,358
Other liabilities	4,467	1,678
Unrealized holding (losses) gains arising during the period	(4,467)	(112)
Investments in unconsolidated entities:
Investments in unconsolidated entities	(929)	(1,291)
Other liabilities	(900)	(3,495)
Debt financing costs:
Mortgage notes payable, net	(437)	0
Notes, net	0	(6,352)
Other:
Foreign currency translation adjustments	$ (50)	$ 502

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($) $ in Thousands	Total	PREFERRED SHARES	COMMON SHARES, $0.01 PAR VALUE	Additional Paid-in Capital [Member]	RETAINED EARNINGS	Accumulated Other Comprehensive (Loss)	NONCONTROLLING INTERESTS	Partially Owned [Domain]
Balance, beginning of year at Dec. 31, 2015	$ 10,470,368	$ 37,280	$ 3,648	$ 8,572,365	$ 2,009,091	$ (152,016)
Balance, beginning of year at Dec. 31, 2015	225,987						$ 221,379	$ 4,608
COMMON SHARES, $0.01 PAR VALUE
Exercise of share options			6	26,135
Restricted shares			2	9,625
PAID IN CAPITAL
Conversion of OP Units into Common Shares				271			(271)
EQR's Employee Share Purchase Plan (ESPP)				2,023
Share-based employee compensation expense:
Share options				2,733
ESPP discount				357
Supplemental Executive Retirement Plan (SERP)				801
Change in market value of Redeemable Noncontrolling Interests – Operating Partnership	(99,190)			99,190
Adjustment for Noncontrolling Interests ownership in Operating Partnership				4,865			(4,865)
RETAINED EARNINGS
Net income attributable to controlling interests	3,806,597				3,806,597
Common Share distributions					(3,289,355)
Preferred Share distributions					(1,545)
Other comprehensive (loss) income – derivative instruments:
Unrealized holding (losses) gains arising during the period	(4,467)					(4,467)
Losses reclassified into earnings from other comprehensive income	(32,922)					32,922
Currency translation adjustments arising during the period	50					50
OPERATING PARTNERSHIP
Issuance of restricted units to Noncontrolling Interests							1
Equity compensation associated with Noncontrolling Interests							13,903
Net income attributable to Noncontrolling Interests	(152,089)						152,089
Distributions to Noncontrolling Interests							(129,757)	(27,714)
Change in carrying value of Redeemable Noncontrolling Interests – Operating Partnership	10,731						(10,731)
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	1,545							1,545
Other								25,839
Balance, end of period at Jun. 30, 2016	11,160,578	$ 37,280	$ 3,656	$ 8,718,365	$ 2,524,788	$ (123,511)
Balance, end of period at Jun. 30, 2016	$ 246,026						$ 241,748	$ 4,278

CONSOLIDATED STATEMENT OF CHA12

CONSOLIDATED STATEMENT OF CHANGES IN CAPITAL OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($) $ in Thousands	Total	ERPOP [Member]	ERPOP [Member]PREFERENCE UNITS	ERPOP [Member]GENERAL PARTNER	ERPOP [Member]LIMITED PARTNERS	ERPOP [Member]ACCUMULATED OTHER COMPREHENSIVE (LOSS)	ERPOP [Member]NONCONTROLLING INTERESTS
Balance, beginning of year at Dec. 31, 2015			$ 37,280	$ 10,585,104	$ 221,379	$ (152,016)
Balance, beginning of year at Dec. 31, 2015							$ 4,608
OP Unit Issuance:
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				271	(271)
Exercise of EQR share options				26,141
EQR's Employee Share Purchase Plan (ESPP)				2,023
Share-based employee compensation expense:
EQR restricted shares				9,627
EQR share options				2,733
EQR ESPP discount				357
Net income available to Units – General Partner		$ 3,805,052		3,805,052
OP Units – General Partner distributions				(3,289,355)
Supplemental Executive Retirement Plan (SERP)				801
Change in market value of Redeemable Limited Partners		99,190		99,190
Adjustment for Noncontrolling Interests ownership in Operating Partnership				4,865	(4,865)
Limited Partners' Capital Account [Abstract]
Issuance of restricted units to Noncontrolling Interests					1
Equity compensation associated with Units – Limited Partners					13,903
Net income available to Units – Limited Partners		152,089			152,089
Units – Limited Partners distributions					(129,757)
Change in carrying value of Redeemable Limited Partners		(10,731)			(10,731)
Other comprehensive (loss) income – derivative instruments:
Unrealized holding (losses) gains arising during the period	$ (4,467)	(4,467)				(4,467)
Losses reclassified into earnings from other comprehensive income	(32,922)	(32,922)				32,922
Accumulated other comprehensive income – foreign currency:
Currency translation adjustments arising during the period	50	50				50
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	$ 1,545	$ 1,545					1,545
Distributions to Noncontrolling Interests							(27,714)
Other							25,839
Balance, end of period at Jun. 30, 2016			$ 37,280	$ 11,246,809	$ 241,748	$ (123,511)
Balance, end of period at Jun. 30, 2016							$ 4,278

Business

Business	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 owned an approximate 96.1% 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 June 30, 2016 , the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 315 properties located in 11 states and the District of Columbia consisting of 79,458 apartment units. The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 291 73,853 Master-Leased Properties – Consolidated 3 853 Partially Owned Properties – Consolidated 18 3,471 Partially Owned Properties – Unconsolidated 3 1,281 315 79,458

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and certain reclassifications considered necessary for a fair presentation have been included. Certain reclassifications have been made to the prior period financial statements in order to conform to the current year presentation. These reclassifications did not have an impact on net income previously reported. Operating results for the six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . 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. The balance sheets at December 31, 2015 have been derived from the audited financial statements at that date but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, including definitions of capitalized terms not defined herein, refer to the consolidated financial statements and footnotes thereto included in the Company’s and the Operating Partnership's Annual Report on Form 10-K for the year ended December 31, 2015 . 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 June 30, 2016 , the Company has recorded a deferred tax asset, which is fully offset by a valuation allowance due to the uncertainty of realization. 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 this standard as required effective January 1, 2016. While adoption of this 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 and the Operating Partnership now qualify as variable interest entities ("VIEs") and therefore require additional disclosures. See Note 6 for further discussion. 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. As of June 30 2016, $5.3 million , $17.6 million and $23.8 million of deferred financing costs were included within other assets, mortgage notes payable, net and notes, net, respectively, on the consolidated balance sheets. As of December 31, 2015, the following amounts of deferred financing costs were reclassified (amounts in thousands): December 31, 2015 As Originally Reclassification As Presented Deferred financing costs, net $ 54,004 $ (54,004 ) $ — Other assets $ 422,027 $ 6,872 $ 428,899 Mortgage notes payable, net $ 4,704,870 $ (19,736 ) $ 4,685,134 Notes, net $ 5,876,352 $ (27,396 ) $ 5,848,956 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. In February 2016, the FASB issued a new leases standard which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The new standard is expected to impact the Company’s consolidated financial statements as the Company has certain operating ground lease arrangements for which it is the lessee. The new standard will be effective for the Company beginning on January 1, 2019, with early adoption permitted. The Company is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. In March 2016, the FASB issued a new standard which simplifies several aspects of the accounting for employee share-based payment transactions, including income tax consequences, classification of awards as equity or liability, statement of cash flows classification and policy election options for forfeitures. The new standard will be effective for the Company beginning on January 1, 2017, with early adoption permitted. The Company is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. Other The Company is the controlling partner in various consolidated partnerships owning 18 properties and 3,471 apartment units having a noncontrolling interest book value of $4.3 million at June 30, 2016 . 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 five properties having a noncontrolling interest deficit balance of $9.2 million . These five 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 June 30, 2016 , the Company estimates the value of Noncontrolling Interest distributions for these five properties would have been approximately $54.6 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 five 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 June 30, 2016 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	6 Months Ended
	Jun. 30, 2016
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) for the six months ended June 30, 2016 : 2016 Common Shares Common Shares outstanding at January 1, 364,755,444 Common Shares Issued: Conversion of OP Units 9,840 Exercise of share options 599,634 Employee Share Purchase Plan (ESPP) 33,065 Restricted share grants, net 152,653 Common Shares outstanding at June 30, 365,550,636 Units Units outstanding at January 1, 14,427,164 Restricted unit grants, net 289,273 Conversion of OP Units to Common Shares (9,840 ) Units outstanding at June 30, 14,706,597 Total Common Shares and Units outstanding at June 30, 380,257,233 Units Ownership Interest in Operating Partnership 3.9 % 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 June 30, 2016 and December 31, 2015 . 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 June 30, 2016 , the Redeemable Noncontrolling Interests – Operating Partnership have a redemption value of approximately $478.3 million , which represents the value of Common Shares that would be issued in exchange for 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 six months ended June 30, 2016 (amounts in thousands): 2016 Balance at January 1, $ 566,783 Change in market value (99,190 ) Change in carrying value 10,731 Balance at June 30, $ 478,324 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 June 30, 2016 and December 31, 2015 : Amounts in thousands Redemption Annual June 30, December 31, Preferred Shares of beneficial interest, $0.01 par value; 8.29% Series K Cumulative Redeemable Preferred; liquidation 12/10/26 $4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (1) On or after the redemption date, redeemable preferred shares may be redeemed for cash at the option of the Company, in whole or in part, at a redemption price equal to the liquidation price per share, plus accrued and unpaid distributions, if any. (2) Dividends on Preferred Shares are payable quarterly. Capital and Redeemable Limited Partners of ERP Operating Limited Partnership The following tables present the changes in the Operating Partnership’s issued and outstanding Units and in the limited partners’ Units for the six months ended June 30, 2016 : 2016 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 379,182,608 Issued to General Partner: Exercise of EQR share options 599,634 EQR’s Employee Share Purchase Plan (ESPP) 33,065 EQR's restricted share grants, net 152,653 Issued to Limited Partners: Restricted unit grants, net 289,273 General and Limited Partner Units outstanding at June 30, 380,257,233 Limited Partner Units Limited Partner Units outstanding at January 1, 14,427,164 Limited Partner restricted unit grants, net 289,273 Conversion of Limited Partner OP Units to EQR Common Shares (9,840 ) Limited Partner Units outstanding at June 30, 14,706,597 Limited Partner Units Ownership Interest in Operating Partnership 3.9 % The Limited Partners of the Operating Partnership as of June 30, 2016 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 June 30, 2016 and December 31, 2015 . 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 June 30, 2016 , the Redeemable Limited Partner Units have a redemption value of approximately $478.3 million , which represents the value of Common Shares that would be issued in exchange for the Redeemable Limited Partner Units. The following table presents the changes in the redemption value of the Redeemable Limited Partners for the six months ended June 30, 2016 (amounts in thousands): 2016 Balance at January 1, $ 566,783 Change in market value (99,190 ) Change in carrying value 10,731 Balance at June 30, $ 478,324 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 June 30, 2016 and December 31, 2015 : Amounts in thousands Redemption Date (1) Annual June 30, December 31, Preference Units: 8.29% Series K Cumulative Redeemable Preference Units; 12/10/26 $4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (1) On or after the redemption date, redeemable preference units may be redeemed for cash at the option of the Operating Partnership, in whole or in part, at a redemption price equal to the liquidation price per unit, plus accrued and unpaid distributions, if any, in conjunction with the concurrent redemption of the corresponding Company Preferred Shares. (2) Dividends on Preference Units are payable quarterly. Other 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 June 29, 2016, the Company extended the program maturity to June 2019. EQR has the authority to issue 13.0 million shares under this program but has not issued any shares since September 14, 2012. Effective June 16, 2016, the Board of Trustees approved an increase to the Company's share repurchase program to allow for the potential repurchase of up to 13.0 million Common Shares ( 12,968,760 Common Shares were available for repurchase prior to such increase). No shares were repurchased during the six months ended June 30, 2016 and as a result at June 30, 2016 , EQR has authorization to repurchase up to 13.0 million of its shares under the repurchase program.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 (amounts in thousands): June 30, 2016 December 31, 2015 Land $ 5,835,195 $ 5,864,046 Depreciable property: Buildings and improvements 16,735,299 16,346,829 Furniture, fixtures and equipment 1,269,413 1,207,098 In-Place lease intangibles 469,679 483,160 Projects under development: Land 188,563 284,995 Construction-in-progress 611,384 837,381 Land held for development: Land 98,549 120,007 Construction-in-progress 39,672 38,836 Investment in real estate 25,247,754 25,182,352 Accumulated depreciation (5,119,342 ) (4,905,406 ) Investment in real estate, net $ 20,128,412 $ 20,276,946 The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of June 30, 2016 and December 31, 2015 (amounts in thousands): Description Balance Sheet Location June 30, 2016 December 31, 2015 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 (15,712 ) (13,451 ) Lease intangible assets, net $ 163,799 $ 166,060 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 (3,967 ) (3,414 ) Lease intangible liabilities, net $ 3,703 $ 4,256 During the six months ended June 30, 2016 and 2015 , the Company amortized approximately $2.2 million and $2.2 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 $0.5 million and $0.5 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. During the quarters ended June 30, 2016 and 2015 , the Company amortized approximately $1.1 million and $1.1 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 $0.3 million and $0.3 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): Remaining 2016 2017 2018 2019 2020 2021 Ground lease intangibles $ 2,161 $ 4,321 $ 4,321 $ 4,321 $ 4,321 $ 4,321 Retail lease intangibles (444 ) (540 ) (71 ) (71 ) (71 ) (67 ) Total $ 1,717 $ 3,781 $ 4,250 $ 4,250 $ 4,250 $ 4,254 Acquisitions and Dispositions During the six months ended June 30, 2016 , 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) 3 479 $ 204,134 Total 3 479 $ 204,134 (1) Purchase price includes an allocation of approximately $80.9 million to land and $123.2 million to depreciable property. During the six months ended June 30, 2016 , the Company disposed of the following to unaffiliated parties (sales price in thousands): Properties Apartment Units Sales Price Rental Properties – Consolidated (1) 83 26,890 $ 6,427,403 Land Parcels – Consolidated — — 27,455 Total 83 26,890 $ 6,454,858 (1) Includes the Starwood Portfolio sale (see further discussion below) representing 72 operating properties consisting of 23,262 apartment units for $5.365 billion . The Company recognized a net gain on sales of real estate properties of approximately $3.8 billion (inclusive of $3.2 billion on the Starwood Portfolio sale) and a net gain on sales of land parcels of approximately $11.7 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" or "Starwood Portfolio"). 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 the entire portfolio described above. As a result, the Starwood Transaction met 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 were classified as held for sale in the accompanying consolidated balance sheets at December 31, 2015 (amounts in thousands): December 31, 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 South Florida and Denver markets and certain assets in the Washington D.C., Seattle and Los Angeles markets. The sale of these properties represents the continuation of the Company's long-term strategy of investing in high barrier to entry urban markets. See Note 11 for further discussion. Markets/Metro Areas Properties Apartment Units South Florida 33 10,742 Denver 18 6,635 Washington D.C. 10 3,020 Seattle 8 1,721 Los Angeles 3 1,144 Total 72 23,262 The Company used proceeds from the Starwood Transaction and other sales discussed above to pay a special dividend of $8.00 per share/unit (approximately $3.0 billion ) on March 10, 2016 to shareholders and holders of OP Units of record as of March 3, 2016. The Company used the majority of the remaining proceeds to reduce aggregate indebtedness in order to make the transaction leverage neutral. See Note 8 for further discussion.

Commitments to Acquire_Dispose

Commitments to Acquire/Dispose of Real Estate	6 Months Ended
	Jun. 30, 2016
Commitments to Acquire Dispose of Real Estate [Abstract]
Commitments To Acquire Dispose Of Real Estate Text Block	5. Commitments to Acquire/Dispose of Real Estate The Company has not entered into any separate agreements to acquire rental properties or land parcels as of August 4, 2016. In addition to the properties and land parcel that were subsequently disposed of as discussed in Note 14, the Company has entered into separate agreements to dispose of the following (sales price in thousands): Properties Apartment Units Sales Price Rental Properties 9 1,344 $ 191,680 Land Parcels (two) — — 36,150 Total 9 1,344 $ 227,830 The closings of these pending transactions are subject to certain conditions and restrictions, therefore, there can be no assurance that these transactions will be consummated or that the final terms will not differ in material respects from those summarized in the preceding paragraphs.

Investments in Partially Owned

Investments in Partially Owned Entities	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 (amounts in thousands except for property and apartment unit amounts): Consolidated Unconsolidated (VIE) (Non-VIE) (VIE) (1) Total Total properties 18 2 1 3 Total apartment units 3,471 945 336 1,281 Balance sheet information at 6/30/16 (at 100%): ASSETS Investment in real estate $ 667,414 $ 234,807 $ 229,685 $ 464,492 Accumulated depreciation (214,810 ) (27,615 ) (51,053 ) (78,668 ) Investment in real estate, net 452,604 207,192 178,632 385,824 Cash and cash equivalents 17,860 6,860 1,068 7,928 Investments in unconsolidated entities 48,127 — — — Deposits – restricted 353 262 47 309 Other assets 25,658 448 913 1,361 Total assets $ 544,602 $ 214,762 $ 180,660 $ 395,422 LIABILITIES AND EQUITY/CAPITAL Mortgage notes payable, net (2) $ 318,114 $ 145,423 $ 29,123 $ 174,546 Accounts payable & accrued expenses 1,966 1,239 351 1,590 Accrued interest payable 1,085 691 — 691 Other liabilities 754 312 541 853 Security deposits 1,959 488 155 643 Total liabilities 323,878 148,153 30,170 178,323 Noncontrolling Interests – Partially Owned Properties/Partners' equity 4,278 62,282 104,272 166,554 Company equity/General and Limited Partners' Capital 216,446 4,327 46,218 50,545 Total equity/capital 220,724 66,609 150,490 217,099 Total liabilities and equity/capital $ 544,602 $ 214,762 $ 180,660 $ 395,422 Consolidated Unconsolidated (VIE) (Non-VIE) (VIE) (1) Total Operating information for the six months ended 6/30/16 (at 100%): Operating revenue $ 46,331 $ 13,139 $ 5,794 $ 18,933 Operating expenses 11,319 4,348 2,337 6,685 Net operating income 35,012 8,791 3,457 12,248 Property management 1,633 383 38 421 General and administrative/other 40 1 165 166 Depreciation 10,755 5,246 3,716 8,962 Operating income (loss) 22,584 3,161 (462 ) 2,699 Interest and other income 37 — — — Interest: Expense incurred, net (7,549 ) (4,145 ) (545 ) (4,690 ) Amortization of deferred financing costs (218 ) — — — Income (loss) before income and other taxes and (loss) from 14,854 (984 ) (1,007 ) (1,991 ) Income and other tax (expense) benefit (44 ) (13 ) — (13 ) (Loss) from investments in unconsolidated entities (731 ) — — — Net income (loss) $ 14,079 $ (997 ) $ (1,007 ) $ (2,004 ) (1) Includes the company's unconsolidated interest in an entity that owns the land underlying our Wisconsin Place apartment property and owns and operates the parking facility. This entity is excluded from the property and apartment unit count. (2) All debt is non-recourse to the Company. Note: The above tables exclude EQR's ownership interest in ERPOP and the Company's interests in unconsolidated joint ventures entered into with AvalonBay Communities, Inc. (“AVB”) in connection with the acquisition of certain real estate related assets from Archstone Enterprise LP (such assets are referred to herein as "Archstone"). These ventures owned certain 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 $42.1 million at June 30, 2016 . The ventures are owned 60% by the Company and 40% by AVB. See below for further discussion. Operating Properties The Company has various equity interests in certain limited partnerships owning 17 properties containing 3,039 apartment units. Each partnership owns a multifamily property. The Company is the general partner of these limited partnerships and is responsible for managing the operations and affairs of the partnerships as well as making all decisions regarding the businesses of the partnerships. The limited partners are not able to exercise substantive kick-out or participating rights. As a result, the partnerships qualify as VIEs. The Company has a controlling financial interest in the VIEs and, thus, is the VIEs' primary beneficiary. The Company has both the power to direct the activities of the VIEs that most significantly impact the VIEs' economic performance as well as the obligation to absorb losses or the right to receive benefits from the VIEs that could potentially be significant to the VIEs. As a result, the partnerships are required to be consolidated on the Company's balance sheet. 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 June 30, 2016 , the residential component had a net book value of $173.3 million . The Company is the managing member and is responsible for conducting all administrative day-to-day matters and affairs of the joint venture as well as implementing all decisions with respect to the joint venture. The limited partner is not able to exercise substantive kick-out or participating rights. As a result, the joint venture qualifies as a VIE. The Company has a controlling financial interest in the VIE and, thus, is the VIE's primary beneficiary. The Company has both the power to direct the activities of the VIE that most significantly impact the VIE's economic performance as well as the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. As a result, the entity that owns the residential component is required to be consolidated on the Company's balance sheet. The Wisconsin Place 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 June 30, 2016 , the basis of this investment was $48.1 million . The joint venture, as a limited partner, does not have substantive kick-out or participating rights in the entity. As a result, the entity qualifies as a VIE. The joint venture does not have a controlling financial interest in the VIE and is not the VIE's primary beneficiary. The joint venture does not have the power to direct the activities of the VIE that most significantly impact the VIE's economic performance or the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. 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 had a 20% equity interest in the Waterton Tenside joint venture which owned a 336 unit apartment property located in Atlanta, Georgia and had a basis of $3.8 million at June 30, 2016 . The partner was the managing member and its predecessor by merger developed the project. The project was encumbered by a non-recourse mortgage loan that had an outstanding balance of $29.1 million , bore interest at 3.66% and would have matured December 1, 2018 . The Company, as the limited partner, did not have substantive kick-out or participating rights. As a result, the entity qualified as a VIE. The Company did not have a controlling financial interest in the VIE and was not the VIE's primary beneficiary. The Company did not have the power to direct the activities of the VIE that most significantly impacted the VIE's economic performance or the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. As a result, the entity was unconsolidated and recorded using the equity method of accounting. On July 14, 2016, the Company and its joint venture partner sold this property to an unaffiliated party. See Note 14 for further discussion. 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 the Company's interest had a basis of $4.7 million at June 30, 2016 . The Domain joint venture owns a 444 unit apartment property located in San Jose, California and the Company's interest had a basis of $9.8 million at June 30, 2016 . Nexus Sawgrass and Domain were completed and stabilized during the quarters ended September 30, 2014 and March 31, 2015 , respectively. Construction on both properties 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 properties and gave certain construction cost overrun guarantees, the joint venture partner has significant participating rights and has active involvement in and oversight of the operations. As a result, the entities do not qualify as VIEs. The Company alone does not have the power to direct the activities of the entities that most significantly impact the entities' economic performance and 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 properties. Other As the sole general partner of ERPOP, EQR has exclusive control of ERPOP's day-to-day management. The limited partners are not able to exercise substantive kick-out or participating rights. As a result, ERPOP qualifies as a VIE. EQR has a controlling financial interest in ERPOP and, thus, is ERPOP's primary beneficiary. EQR has the power to direct the activities of ERPOP that most significantly impact ERPOP's economic performance as well as the obligation to absorb losses or the right to receive benefits from ERPOP that could potentially be significant to ERPOP. As a result, ERPOP is required to be consolidated on EQR's balance sheet. On February 27, 2013, in connection with the acquisition of Archstone, subsidiaries of the Company and AVB entered into three limited liability company agreements (collectively, the “Residual JV”). The Residual JV owned certain 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 June 30, 2016 was a net obligation of $0.5 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 does not qualify as a VIE. The Company alone does not have the power to direct the activities of the Residual JV that most significantly impact the Residual JV's economic performance and as a result, the Residual JV is unconsolidated and recorded using the equity method of accounting. The Residual JV has sold all of the real estate assets that were acquired as part of the acquisition of Archstone, including all of the German assets, and is in the process of winding down all remaining activities. On February 27, 2013, in connection with the acquisition of Archstone, 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. At June 30, 2016 , the remaining preferred interests had an aggregate liquidation value of $42.1 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 does not qualify as a VIE. The Company alone does not have the power to direct the activities of the Legacy JV that most significantly impact the Legacy JV's economic performance and as a result, the Legacy JV is unconsolidated and recorded using the equity method of accounting.

Deposits - Restricted

Deposits - Restricted	6 Months Ended
	Jun. 30, 2016
Deposits - Restricted [Abstract]
Restricted Assets Disclosure [Text Block]	7. Deposits – Restricted and Escrow Deposits – Mortgage The following table presents the Company’s restricted deposits as of June 30, 2016 and December 31, 2015 (amounts in thousands): June 30, December 31, Tax-deferred (1031) exchange proceeds $ 34,032 $ — Earnest money on pending acquisitions — 1,000 Restricted deposits on real estate investments 3,860 6,077 Resident security and utility deposits 39,336 48,458 Other 359 358 Totals $ 77,587 $ 55,893 The following table presents the Company’s escrow deposits as of June 30, 2016 and December 31, 2015 (amounts in thousands): June 30, December 31, Real estate taxes and insurance $ 2,817 $ 1,977 Replacement reserves 3,916 3,962 Mortgage principal reserves/sinking funds 54,126 50,155 Other 852 852 Totals $ 61,711 $ 56,946

Debt

Debt	6 Months Ended
	Jun. 30, 2016
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. See Note 2 for a discussion regarding adoption of the new accounting standard impacting deferred financing costs. Mortgage Notes Payable As of June 30, 2016 , the Company had outstanding mortgage debt of approximately $4.1 billion . During the six months ended June 30, 2016 , the Company: • 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 $57.8 million of various tax-exempt mortgage bonds maturing in 2026 through 2037 and incurred a prepayment penalty of approximately $0.2 million ; • Repaid $57.9 million of conventional fixed-rate mortgage loans; • Repaid $4.7 million of scheduled principal repayments on various mortgage debt; and • Assumed $43.4 million of mortgage debt on one acquired property. The Company recorded $1.4 million of write-offs of unamortized deferred financing costs during the six months ended June 30, 2016 as additional interest expense related to debt extinguishment of mortgages. The Company also recorded $20.7 million of write-offs of net unamortized premiums during the six months ended June 30, 2016 as a reduction of interest expense related to debt extinguishment of mortgages. As of June 30, 2016 , the Company had $610.5 million of secured debt subject to third party credit enhancement. As of June 30, 2016 , scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through May 28, 2061 . At June 30, 2016 , the interest rate range on the Company’s mortgage debt was 0.10% to 7.20% . During the six months ended June 30, 2016 , the weighted average interest rate on the Company’s mortgage debt was 4.34% . Notes As of June 30, 2016 , the Company had outstanding unsecured notes of approximately $4.4 billion . During the six months ended June 30, 2016 , the Company: • Repaid $228.9 million of 5.125% unsecured notes maturing in 2016 and incurred a prepayment penalty of approximately $1.4 million and repaid the remaining $271.1 million of 5.125% unsecured notes at maturity; • 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 ; and • Repaid $48.0 million of 7.570% unsecured notes maturing in 2026 and incurred a prepayment penalty of approximately $19.3 million . The Company recorded $1.9 million of write-offs of unamortized deferred financing costs during the six months ended June 30, 2016 as additional interest expense related to debt extinguishment of unsecured notes. The Company also recorded $25.2 million of write-offs of net unamortized premiums/discounts/OCI/treasury locks during the six months ended June 30, 2016 as additional interest expense related to debt extinguishment of unsecured notes. As of June 30, 2016 , scheduled maturities for the Company’s outstanding notes were at various dates through June 1, 2045 . At June 30, 2016 , the interest rate range on the Company’s notes was 1.232% to 7.57% . During the six months ended June 30, 2016 , the weighted average interest rate on the Company’s notes was 4.62% . 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 June 30, 2016 , there was no commercial paper outstanding. The notes bear interest at various floating rates with a weighted average of 0.96% for the six months ended June 30, 2016 . As of June 30, 2016 , the amount available on the revolving credit facility was $2.48 billion (net of $24.6 million which was restricted/dedicated to support letters of credit). During the six months ended June 30, 2016 , the weighted average interest rate on the revolving credit facility was 1.34% .

Derivative and Other Fair Value

Derivative and Other Fair Value Instruments	6 Months Ended
	Jun. 30, 2016
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 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 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 notes were approximately $4.1 billion and $4.4 billion , respectively, at June 30, 2016 . The fair values of the Company’s mortgage notes payable and unsecured notes were approximately $4.3 billion (Level 2) and $4.8 billion (Level 2), respectively, at June 30, 2016 . The carrying values of the Company's mortgage notes payable and unsecured debt (including its commercial paper) were approximately $4.7 billion and $6.2 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 fair values of the Company’s financial instruments (other than mortgage notes payable, unsecured notes, 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 June 30, 2016 (dollar amounts are in thousands): Fair Value Forward Current Notional Balance $ 450,000 $ 50,000 Indicative Interest Rate 2.375 % 2.500 % 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 June 30, 2016 and December 31, 2015 , respectively (amounts in thousands): Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 6/30/2016 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) 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 $ 12,045 $ — $ 12,045 $ — Supplemental Executive Retirement Plan Other Assets 116,287 116,287 — — Total $ 128,332 $ 116,287 $ 12,045 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 5,140 $ — $ 5,140 $ — Supplemental Executive Retirement Plan Other Liabilities 116,287 116,287 — — Total $ 121,427 $ 116,287 $ 5,140 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 478,324 $ — $ 478,324 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2015 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) 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 $ — 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 six months ended June 30, 2016 and 2015 , respectively (amounts in thousands): June 30, 2016 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 on Hedged Item Derivatives designated as hedging instruments: Interest Rate Contracts: Interest Rate Swaps Interest expense $ 8,390 Fixed rate debt Interest expense $ (8,390 ) Total $ 8,390 $ (8,390 ) June 30, 2015 Type of Fair Value Hedge Location of Derivative Amount of Derivative Hedged Item Income Statement Amount of Gain/(Loss) Recognized in Income on Hedged Item Derivatives designated as hedging instruments: Interest Rate Contracts: Interest Rate Swaps Interest expense $ 2,358 Fixed rate debt Interest expense $ (2,358 ) Total $ 2,358 $ (2,358 ) 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 six months ended June 30, 2016 and 2015 , respectively (amounts in thousands): Effective Portion Ineffective Portion June 30, 2016 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/ (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/ Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/ Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (4,467 ) Interest expense $ (32,922 ) N/A $ — Total $ (4,467 ) $ (32,922 ) $ — Effective Portion Ineffective Portion June 30, 2015 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/ (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/ Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/ Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (142 ) Interest expense $ (8,911 ) Interest expense $ (30 ) Total $ (142 ) $ (8,911 ) $ (30 ) As of June 30, 2016 and December 31, 2015 , there were approximately $123.3 million and $151.8 million in deferred losses, net, included in accumulated other comprehensive (loss), respectively, related to derivative instruments. Based on the estimated fair values of the net derivative instruments at June 30, 2016 , the Company may recognize an estimated $21.0 million of accumulated other comprehensive (loss) as additional interest expense during the twelve months ending June 30, 2017 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share And Earnings Per Unit [Text Block]	10. Earning 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): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 Numerator for net income per share – basic: Income from continuing operations $ 3,960,353 $ 488,573 $ 228,365 $ 298,504 Allocation to Noncontrolling Interests – Operating Partnership, net (152,093 ) (18,403 ) (8,779 ) (11,350 ) Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (1,545 ) (1,487 ) (781 ) (844 ) Preferred distributions (1,545 ) (1,724 ) (772 ) (833 ) Premium on redemption of Preferred Shares — (2,789 ) — — Income from continuing operations available to Common Shares, net of 3,805,170 464,170 218,033 285,477 Discontinued operations, net of Noncontrolling Interests (118 ) 259 34 110 Numerator for net income per share – basic $ 3,805,052 $ 464,429 $ 218,067 $ 285,587 Numerator for net income per share – diluted: Income from continuing operations $ 3,960,353 $ 488,573 $ 228,365 $ 298,504 Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (1,545 ) (1,487 ) (781 ) (844 ) Preferred distributions (1,545 ) (1,724 ) (772 ) (833 ) Premium on redemption of Preferred Shares — (2,789 ) — — Income from continuing operations available to Common Shares 3,957,263 482,573 226,812 296,827 Discontinued operations, net (122 ) 269 35 114 Numerator for net income per share – diluted $ 3,957,141 $ 482,842 $ 226,847 $ 296,941 Denominator for net income per share – basic and diluted: Denominator for net income per share – basic 364,820 363,288 365,047 363,476 Effect of dilutive securities: OP Units 13,792 13,592 13,887 13,587 Long-term compensation shares/units 3,400 3,466 3,131 3,428 Denominator for net income per share – diluted 382,012 380,346 382,065 380,491 Net income per share – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per share – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78 Net income per share – basic: Income from continuing operations available to Common Shares, net of $ 10.43 $ 1.28 $ 0.60 $ 0.79 Discontinued operations, net of Noncontrolling Interests — — — — Net income per share – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per share – diluted: Income from continuing operations available to Common Shares $ 10.36 $ 1.27 $ 0.59 $ 0.78 Discontinued operations, net — — — — Net income per share – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78 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): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 Numerator for net income per Unit – basic and diluted: Income from continuing operations $ 3,960,353 $ 488,573 $ 228,365 $ 298,504 Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (1,545 ) (1,487 ) (781 ) (844 ) Allocation to Preference Units (1,545 ) (1,724 ) (772 ) (833 ) Allocation to premium on redemption of Preference Units — (2,789 ) — — Income from continuing operations available to Units 3,957,263 482,573 226,812 296,827 Discontinued operations, net (122 ) 269 35 114 Numerator for net income per Unit – basic and diluted $ 3,957,141 $ 482,842 $ 226,847 $ 296,941 Denominator for net income per Unit – basic and diluted: Denominator for net income per Unit – basic 378,612 376,880 378,934 377,063 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting of the Company’s 3,400 3,466 3,131 3,428 Denominator for net income per Unit – diluted 382,012 380,346 382,065 380,491 Net income per Unit – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per Unit – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78 Net income per Unit – basic: Income from continuing operations available to Units $ 10.43 $ 1.28 $ 0.60 $ 0.79 Discontinued operations, net — — — — Net income per Unit – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per Unit – diluted: Income from continuing operations available to Units $ 10.36 $ 1.27 $ 0.59 $ 0.78 Discontinued operations, net — — — — Net income per Unit – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2016
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 coastal, high barrier to entry 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 assets located in low barrier to entry markets and reducing its exposure to these 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 exceeded 10% of total assets and the NOI (see definition in Note 13) of the Starwood Portfolio represents approximately 2.3% (for the approximate one-month period owned in 2016) and 15.8% , respectively, of consolidated NOI for the Company for the six months ended June 30, 2016 and 2015. In addition, the Starwood Transaction met the held for sale criteria at December 31, 2015 and was 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 six months and quarters ended June 30, 2016 and 2015 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 REVENUES Rental income $ 30,421 $ 209,911 $ 304 $ 106,202 Total revenues 30,421 209,911 304 106,202 EXPENSES (1) Property and maintenance 7,923 38,702 33 19,616 Real estate taxes and insurance 2,932 24,624 60 12,477 Property management 2 6 — 3 General and administrative 15 25 14 24 Depreciation — 52,432 — 26,238 Total expenses 10,872 115,789 107 58,358 Operating income 19,549 94,122 197 47,844 Interest and other income 11 — 9 — Interest (2): Expense incurred, net (374 ) (342 ) (46 ) (178 ) Amortization of deferred financing costs (707 ) (49 ) — (25 ) Income and other tax (expense) benefit (1 ) (1 ) (1 ) (1 ) Net gain (loss) on sales of real estate properties 3,161,200 — (21 ) — Income from operations attributable to controlling interests – Operating Partnership 3,179,678 93,730 138 47,640 Income from operations attributable to Noncontrolling Interests – Operating Partnership (122,138 ) (3,574 ) (6 ) (1,820 ) Income from operations attributable to controlling interests – Company $ 3,057,540 $ 90,156 $ 132 $ 45,820 (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 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 six months and quarters ended June 30, 2016 and 2015 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the six months and quarters ended June 30, 2016 and 2015 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 the six months and quarters ended June 30, 2016 and 2015 (amounts in thousands). Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 REVENUES Rental income $ 217 $ 338 $ 99 $ 177 Total revenues 217 338 99 177 EXPENSES (1) Property and maintenance (5 ) (67 ) (2 ) — Real estate taxes and insurance 2 53 1 1 General and administrative 66 71 62 65 Total expenses 63 57 61 66 Discontinued operating income 154 281 38 111 Interest and other income — 3 — 3 Other expenses (280 ) — — — Income and other tax (expense) benefit (11 ) (15 ) (3 ) — Discontinued operations (137 ) 269 35 114 Net gain on sales of discontinued operations 15 — — — Discontinued operations, net $ (122 ) $ 269 $ 35 $ 114 (1) Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	12. 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 many of its properties in violation of the accessibility requirements of the Fair Housing Act (“FHA”) and Americans With Disabilities Act (“ADA”). The suit seeks actual and punitive damages, injunctive relief (including modification of non-compliant properties), costs and attorneys’ fees. On March 31, 2016, the Court found that certain features at seven of the Company’s properties do not satisfy the accessibility requirements of the FHA. It is unclear at this time how the Court’s finding will affect unresolved liability issues relating to other properties that are encompassed by the lawsuit or potential remedies to the extent violations exist. The Company will continue to defend the suit vigorously, and due to the uncertainty of the many 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 June 30, 2016 . 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 six months ended June 30, 2016, the Company settled one matter, paying approximately $1.5 million , and recorded a reduction to the reserve of approximately $0.5 million , resulting in a total reserve of approximately $1.0 million at June 30, 2016 . While no assurances can be given, the Company does not believe that the ultimate resolution of any of these remaining 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 June 30, 2016 , the Company has eight wholly owned projects totaling 2,850 apartment units in various stages of development with commitments to fund of approximately $491.5 million and estimated completion dates ranging through December 31, 2018 , as well as other completed development projects that are in various stages of lease up or are stabilized. As of June 30, 2016 , the Company has two completed unconsolidated development properties that are stabilized. Both properties 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 properties. While the Company is the managing member of both of the joint ventures, was responsible for constructing both of the properties 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.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Segment Reporting Disclosure [Text Block]	13. 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 coastal markets represent its reportable segments. As of January 1, 2016, the Company has revised the presentation of Southern California to show separate results for Los Angeles, San Diego and Orange County, along with a subtotal of the three markets combined, for both the current and comparable periods. The Company's operating segments located in its other markets that are not material have been included in the tables presented below. See also Note 4 for further discussion of the Starwood Transaction and the operating segments/locations in which properties were 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 included 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 six months and quarters ended June 30, 2016 and 2015 , respectively. 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 and 2) real estate taxes and insurance expense (all as reflected in the accompanying consolidated statements of operations and comprehensive income). As of January 1, 2016, NOI no longer includes an allocation of property management expenses either in the current or comparable periods. 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 properties. 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 six months and quarters ended June 30, 2016 and 2015 , respectively (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 Rental income $ 1,211,104 $ 1,341,114 $ 594,939 $ 676,508 Property and maintenance expense (205,472 ) (242,565 ) (96,307 ) (118,005 ) Real estate taxes and insurance expense (157,611 ) (169,551 ) (77,415 ) (83,119 ) Total operating expenses (363,083 ) (412,116 ) (173,722 ) (201,124 ) Net operating income $ 848,021 $ 928,998 $ 421,217 $ 475,384 The following tables present NOI for each segment from our rental real estate specific to continuing operations for the six months and quarters ended June 30, 2016 and 2015 , respectively, as well as total assets and capital expenditures at June 30, 2016 (amounts in thousands): Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 181,849 $ 52,847 $ 129,002 $ 171,169 $ 52,082 $ 119,087 San Diego 43,306 11,696 31,610 40,874 11,417 29,457 Orange County 39,116 9,332 29,784 36,922 9,327 27,595 Subtotal – Southern California 264,271 73,875 190,396 248,965 72,826 176,139 New York 227,736 78,629 149,107 222,210 77,223 144,987 Washington D.C. 210,416 62,296 148,120 208,247 62,646 145,601 San Francisco 182,485 44,428 138,057 168,047 42,909 125,138 Boston 123,890 34,272 89,618 120,294 36,320 83,974 Seattle 75,565 21,392 54,173 71,250 19,868 51,382 All Other Markets 14,754 5,992 8,762 14,104 6,374 7,730 Total same store 1,099,117 320,884 778,233 1,053,117 318,166 734,951 Non-same store/other (2) (3) Los Angeles 16,460 5,726 10,734 13,825 4,766 9,059 Orange County 2,358 685 1,673 — — — Subtotal – Southern California 18,818 6,411 12,407 13,825 4,766 9,059 New York 15,714 7,533 8,181 1,291 1,453 (162 ) Washington D.C. 1,818 346 1,472 2,062 380 1,682 San Francisco 13,328 4,710 8,618 640 615 25 Boston 5,542 1,415 4,127 3,375 782 2,593 Seattle 12,584 3,035 9,549 4,003 1,090 2,913 Other (3) 44,183 18,749 25,434 262,801 84,864 177,937 Total non-same store/other 111,987 42,199 69,788 287,997 93,950 194,047 Total $ 1,211,104 $ 363,083 $ 848,021 $ 1,341,114 $ 412,116 $ 928,998 (1) Same store primarily includes all properties acquired or completed that are stabilized prior to January 1, 2015, less properties subsequently sold, which represented 72,494 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2015, plus any properties in lease-up and not stabilized as of January 1, 2015. (3) Other includes development, other corporate operations and operations prior to sale for properties sold from 2014 through 2016 that do not meet the new discontinued operations criteria. Quarter Ended June 30, 2016 Quarter Ended June 30, 2015 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 91,699 $ 26,489 $ 65,210 $ 86,515 $ 25,893 $ 60,622 San Diego 21,877 5,861 16,016 20,643 5,756 14,887 Orange County 19,802 4,599 15,203 18,601 4,639 13,962 Subtotal – Southern California 133,378 36,949 96,429 125,759 36,288 89,471 New York 114,532 38,487 76,045 111,885 37,716 74,169 Washington D.C. 106,148 30,871 75,277 104,907 30,609 74,298 San Francisco 91,811 22,230 69,581 85,224 21,390 63,834 Boston 62,272 16,848 45,424 60,467 17,470 42,997 Seattle 40,401 11,344 29,057 38,103 10,564 27,539 All Other Markets 7,480 2,840 4,640 7,137 2,849 4,288 Total same store 556,022 159,569 396,453 533,482 156,886 376,596 Non-same store/other (2) (3) Los Angeles 9,198 3,021 6,177 6,505 2,382 4,123 Orange County 1,201 350 851 — — — Subtotal – Southern California 10,399 3,371 7,028 6,505 2,382 4,123 New York 8,628 3,898 4,730 1,006 1,021 (15 ) Washington D.C. 859 166 693 1,017 183 834 San Francisco 8,043 2,647 5,396 524 394 130 Boston 2,909 698 2,211 2,433 580 1,853 Seattle 4,827 1,164 3,663 68 88 (20 ) Other (3) 3,252 2,209 1,043 131,473 39,590 91,883 Total non-same store/other 38,917 14,153 24,764 143,026 44,238 98,788 Total $ 594,939 $ 173,722 $ 421,217 $ 676,508 $ 201,124 $ 475,384 (1) Same store primarily includes all properties acquired or completed that are stabilized prior to April 1, 2015, less properties subsequently sold, which represented 72,781 apartment units. (2) Non-same store primarily includes properties acquired after April 1, 2015, plus any properties in lease-up and not stabilized as of April 1, 2015. (3) Other includes development, other corporate operations and operations prior to sale for properties sold from 2014 through 2016 that do not meet the new discontinued operations criteria. Six Months Ended June 30, 2016 Total Assets Capital Expenditures Same store (1) Los Angeles $ 2,550,146 $ 11,718 San Diego 480,150 2,465 Orange County 265,300 3,741 Subtotal – Southern California 3,295,596 17,924 New York 4,314,790 9,838 Washington D.C. 3,965,195 13,191 San Francisco 2,501,535 10,250 Boston 1,789,339 8,285 Seattle 1,045,598 4,800 All Other Markets 78,771 594 Total same store 16,990,824 64,882 Non-same store/other (2) (3) Los Angeles 455,857 5,803 Orange County 76,337 26 Subtotal – Southern California 532,194 5,829 New York 436,213 33 Washington D.C. 45,869 308 San Francisco 951,966 261 Boston 169,544 357 Seattle 331,810 432 Other (3) 1,771,502 2,348 Total non-same store/other 4,239,098 9,568 Total $ 21,229,922 $ 74,450 (1) Same store primarily includes all properties acquired or completed that are stabilized prior to January 1, 2015, less properties subsequently sold, which represented 72,494 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2015, plus any properties in lease-up and not stabilized as of January 1, 2015. (3) Other includes development, other corporate operations and capital expenditures for properties sold. Note: Markets/Metro Areas included in the above All Other Markets segment are as follows: (a) New England (excluding Boston) and Phoenix.

Subsequent Events_Other

Subsequent Events/Other	6 Months Ended
	Jun. 30, 2016
Subsequent Events Other [Abstract]
Subsequent Events/Other	14. Subsequent Events/Other Subsequent Events Subsequent to June 30, 2016 , the Company: • Sold one wholly-owned property consisting of 44 apartment units for $22.0 million ; • Sold one land parcel for approximately $30.0 million ; • Sold one unconsolidated partially owned property (Waterton Tenside) consisting of 336 apartment units for $74.5 million , paid off $29.1 million of mortgage debt at closing and the Company received approximately $11.9 million for its share of the net sales proceeds; and • Repaid $8.6 million of mortgage debt. Other During the six months ended June 30, 2016 , the Company purchased all of the issued and outstanding 3.00% Series P Cumulative Redeemable Preference Units at a par value of $18.4 million and retired these units in conjunction with the purchase. The Operating Partnership had previously issued these units to its partner as part of the buyout of its partner’s 95% interest in a previously unconsolidated development property. In conjunction with this transaction, the Company reduced other liabilities by $18.4 million as the units had been classified as a liability due in part to the fact that the holder could put the units to EQR for cash. During the six months ended June 30, 2016, the Company sold its entire interest in the management contracts and related rights associated with the military housing ventures at Joint Base Lewis McChord consisting of 5,161 apartment units for approximately $63.3 million and recognized a gain on sale of approximately $52.4 million , which is included in interest and other income in the accompanying consolidated statements of operations and comprehensive income. During the six months ended June 30, 2016 and 2015, the Company received $1.4 million and $5.8 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 six months ended June 30, 2016 and 2015 , the Company incurred charges of $1.4 million and $0.2 million , respectively, related to property acquisition costs, such as survey, title and legal fees, on the acquisition of operating properties and $2.6 million and $1.6 million , respectively, related to the write-off of various pursuit and out-of-pocket costs for terminated acquisition, disposition and development transactions. These costs, totaling $4.0 million and $1.8 million , respectively, are included in other expenses in the accompanying consolidated statements of operations and comprehensive income.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and certain reclassifications considered necessary for a fair presentation have been included. Certain reclassifications have been made to the prior period financial statements in order to conform to the current year presentation. These reclassifications did not have an impact on net income previously reported. Operating results for the six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . 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. The balance sheets at December 31, 2015 have been derived from the audited financial statements at that date but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, including definitions of capitalized terms not defined herein, refer to the consolidated financial statements and footnotes thereto included in the Company’s and the Operating Partnership's Annual Report on Form 10-K for the year ended December 31, 2015 .
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 June 30, 2016 , the Company has recorded a deferred tax asset, which is fully offset by a valuation allowance due to the uncertainty of realization.
New 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 this standard as required effective January 1, 2016. While adoption of this 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 and the Operating Partnership now qualify as variable interest entities ("VIEs") and therefore require additional disclosures. See Note 6 for further discussion. 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. As of June 30 2016, $5.3 million , $17.6 million and $23.8 million of deferred financing costs were included within other assets, mortgage notes payable, net and notes, net, respectively, on the consolidated balance sheets. As of December 31, 2015, the following amounts of deferred financing costs were reclassified (amounts in thousands): December 31, 2015 As Originally Reclassification As Presented Deferred financing costs, net $ 54,004 $ (54,004 ) $ — Other assets $ 422,027 $ 6,872 $ 428,899 Mortgage notes payable, net $ 4,704,870 $ (19,736 ) $ 4,685,134 Notes, net $ 5,876,352 $ (27,396 ) $ 5,848,956 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. In February 2016, the FASB issued a new leases standard which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The new standard is expected to impact the Company’s consolidated financial statements as the Company has certain operating ground lease arrangements for which it is the lessee. The new standard will be effective for the Company beginning on January 1, 2019, with early adoption permitted. The Company is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position. In March 2016, the FASB issued a new standard which simplifies several aspects of the accounting for employee share-based payment transactions, including income tax consequences, classification of awards as equity or liability, statement of cash flows classification and policy election options for forfeitures. The new standard will be effective for the Company beginning on January 1, 2017, with early adoption permitted. The Company is currently evaluating the impact of adopting the new standard on its consolidated results of operations and financial position.
Other	Other The Company is the controlling partner in various consolidated partnerships owning 18 properties and 3,471 apartment units having a noncontrolling interest book value of $4.3 million at June 30, 2016 . 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 five properties having a noncontrolling interest deficit balance of $9.2 million . These five 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 June 30, 2016 , the Company estimates the value of Noncontrolling Interest distributions for these five properties would have been approximately $54.6 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 five 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 June 30, 2016 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)	6 Months Ended
	Jun. 30, 2016
Business [Abstract]
Schedule of Real Estate Properties	The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 291 73,853 Master-Leased Properties – Consolidated 3 853 Partially Owned Properties – Consolidated 18 3,471 Partially Owned Properties – Unconsolidated 3 1,281 315 79,458

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	As of December 31, 2015, the following amounts of deferred financing costs were reclassified (amounts in thousands): December 31, 2015 As Originally Reclassification As Presented Deferred financing costs, net $ 54,004 $ (54,004 ) $ — Other assets $ 422,027 $ 6,872 $ 428,899 Mortgage notes payable, net $ 4,704,870 $ (19,736 ) $ 4,685,134 Notes, net $ 5,876,352 $ (27,396 ) $ 5,848,956

Equity, Capital and Other Int30

Equity, Capital and Other Interests (Tables)	6 Months Ended
	Jun. 30, 2016
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) for the six months ended June 30, 2016 : 2016 Common Shares Common Shares outstanding at January 1, 364,755,444 Common Shares Issued: Conversion of OP Units 9,840 Exercise of share options 599,634 Employee Share Purchase Plan (ESPP) 33,065 Restricted share grants, net 152,653 Common Shares outstanding at June 30, 365,550,636 Units Units outstanding at January 1, 14,427,164 Restricted unit grants, net 289,273 Conversion of OP Units to Common Shares (9,840 ) Units outstanding at June 30, 14,706,597 Total Common Shares and Units outstanding at June 30, 380,257,233 Units Ownership Interest in Operating Partnership 3.9 %
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 six months ended June 30, 2016 (amounts in thousands): 2016 Balance at January 1, $ 566,783 Change in market value (99,190 ) Change in carrying value 10,731 Balance at June 30, $ 478,324
Schedule Of Preferred Stock [Table Text Block]	The following table presents the Company’s issued and outstanding Preferred Shares as of June 30, 2016 and December 31, 2015 : Amounts in thousands Redemption Annual June 30, December 31, Preferred Shares of beneficial interest, $0.01 par value; 8.29% Series K Cumulative Redeemable Preferred; liquidation 12/10/26 $4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (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.
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 six months ended June 30, 2016 : 2016 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 379,182,608 Issued to General Partner: Exercise of EQR share options 599,634 EQR’s Employee Share Purchase Plan (ESPP) 33,065 EQR's restricted share grants, net 152,653 Issued to Limited Partners: Restricted unit grants, net 289,273 General and Limited Partner Units outstanding at June 30, 380,257,233 Limited Partner Units Limited Partner Units outstanding at January 1, 14,427,164 Limited Partner restricted unit grants, net 289,273 Conversion of Limited Partner OP Units to EQR Common Shares (9,840 ) Limited Partner Units outstanding at June 30, 14,706,597 Limited Partner Units Ownership Interest in Operating Partnership 3.9 %
Redeemable Noncontrolling Interest [Table Text Block]	The following table presents the changes in the redemption value of the Redeemable Limited Partners for the six months ended June 30, 2016 (amounts in thousands): 2016 Balance at January 1, $ 566,783 Change in market value (99,190 ) Change in carrying value 10,731 Balance at June 30, $ 478,324
Schedule Of Preferred Stock [Table Text Block]	The following table presents the Operating Partnership's issued and outstanding “Preference Units” as of June 30, 2016 and December 31, 2015 : Amounts in thousands Redemption Date (1) Annual June 30, December 31, Preference Units: 8.29% Series K Cumulative Redeemable Preference Units; 12/10/26 $4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (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.

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule of Real Estate Investments And Accumlated Depreciation [Table Text Block}	The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of June 30, 2016 and December 31, 2015 (amounts in thousands): June 30, 2016 December 31, 2015 Land $ 5,835,195 $ 5,864,046 Depreciable property: Buildings and improvements 16,735,299 16,346,829 Furniture, fixtures and equipment 1,269,413 1,207,098 In-Place lease intangibles 469,679 483,160 Projects under development: Land 188,563 284,995 Construction-in-progress 611,384 837,381 Land held for development: Land 98,549 120,007 Construction-in-progress 39,672 38,836 Investment in real estate 25,247,754 25,182,352 Accumulated depreciation (5,119,342 ) (4,905,406 ) Investment in real estate, net $ 20,128,412 $ 20,276,946
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 June 30, 2016 and December 31, 2015 (amounts in thousands): Description Balance Sheet Location June 30, 2016 December 31, 2015 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 (15,712 ) (13,451 ) Lease intangible assets, net $ 163,799 $ 166,060 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 (3,967 ) (3,414 ) Lease intangible liabilities, net $ 3,703 $ 4,256
Schedule of Expected 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): Remaining 2016 2017 2018 2019 2020 2021 Ground lease intangibles $ 2,161 $ 4,321 $ 4,321 $ 4,321 $ 4,321 $ 4,321 Retail lease intangibles (444 ) (540 ) (71 ) (71 ) (71 ) (67 ) Total $ 1,717 $ 3,781 $ 4,250 $ 4,250 $ 4,250 $ 4,254
Acquired and Disposed Properties [Table Text Block]	During the six months ended June 30, 2016 , 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) 3 479 $ 204,134 Total 3 479 $ 204,134 (1) Purchase price includes an allocation of approximately $80.9 million to land and $123.2 million to depreciable property. During the six months ended June 30, 2016 , the Company disposed of the following to unaffiliated parties (sales price in thousands): Properties Apartment Units Sales Price Rental Properties – Consolidated (1) 83 26,890 $ 6,427,403 Land Parcels – Consolidated — — 27,455 Total 83 26,890 $ 6,454,858 (1) Includes the Starwood Portfolio sale (see further discussion below) representing 72 operating properties consisting of 23,262 apartment units for $5.365 billion .
Disclosure of Long Lived Assets Held-for-sale [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 were classified as held for sale in the accompanying consolidated balance sheets at December 31, 2015 (amounts in thousands): December 31, 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 Real Estate Properties [Table Text Block]	The ownership breakdown includes (table does not include various uncompleted development properties): Properties Apartment Units Wholly Owned Properties 291 73,853 Master-Leased Properties – Consolidated 3 853 Partially Owned Properties – Consolidated 18 3,471 Partially Owned Properties – Unconsolidated 3 1,281 315 79,458
Starwood Portfolio [Member]
Schedule of Real Estate Properties [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 South Florida and Denver markets and certain assets in the Washington D.C., Seattle and Los Angeles markets. The sale of these properties represents the continuation of the Company's long-term strategy of investing in high barrier to entry urban markets. See Note 11 for further discussion. Markets/Metro Areas Properties Apartment Units South Florida 33 10,742 Denver 18 6,635 Washington D.C. 10 3,020 Seattle 8 1,721 Los Angeles 3 1,144 Total 72 23,262

Commitments to Acquire_Dispos32

Commitments to Acquire/Dispose of Real Estate (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments to Acquire Dispose of Real Estate [Abstract]
Real Estate To Be Disposed Of Text Block	In addition to the properties and land parcel that were subsequently disposed of as discussed in Note 14, the Company has entered into separate agreements to dispose of the following (sales price in thousands): Properties Apartment Units Sales Price Rental Properties 9 1,344 $ 191,680 Land Parcels (two) — — 36,150 Total 9 1,344 $ 227,830

Investments in Partially Owne33

Investments in Partially Owned Entities (Tables)	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 (amounts in thousands except for property and apartment unit amounts): Consolidated Unconsolidated (VIE) (Non-VIE) (VIE) (1) Total Total properties 18 2 1 3 Total apartment units 3,471 945 336 1,281 Balance sheet information at 6/30/16 (at 100%): ASSETS Investment in real estate $ 667,414 $ 234,807 $ 229,685 $ 464,492 Accumulated depreciation (214,810 ) (27,615 ) (51,053 ) (78,668 ) Investment in real estate, net 452,604 207,192 178,632 385,824 Cash and cash equivalents 17,860 6,860 1,068 7,928 Investments in unconsolidated entities 48,127 — — — Deposits – restricted 353 262 47 309 Other assets 25,658 448 913 1,361 Total assets $ 544,602 $ 214,762 $ 180,660 $ 395,422 LIABILITIES AND EQUITY/CAPITAL Mortgage notes payable, net (2) $ 318,114 $ 145,423 $ 29,123 $ 174,546 Accounts payable & accrued expenses 1,966 1,239 351 1,590 Accrued interest payable 1,085 691 — 691 Other liabilities 754 312 541 853 Security deposits 1,959 488 155 643 Total liabilities 323,878 148,153 30,170 178,323 Noncontrolling Interests – Partially Owned Properties/Partners' equity 4,278 62,282 104,272 166,554 Company equity/General and Limited Partners' Capital 216,446 4,327 46,218 50,545 Total equity/capital 220,724 66,609 150,490 217,099 Total liabilities and equity/capital $ 544,602 $ 214,762 $ 180,660 $ 395,422
Partially Owned Property Income Statement Schedule [Table Text Block]	Consolidated Unconsolidated (VIE) (Non-VIE) (VIE) (1) Total Operating information for the six months ended 6/30/16 (at 100%): Operating revenue $ 46,331 $ 13,139 $ 5,794 $ 18,933 Operating expenses 11,319 4,348 2,337 6,685 Net operating income 35,012 8,791 3,457 12,248 Property management 1,633 383 38 421 General and administrative/other 40 1 165 166 Depreciation 10,755 5,246 3,716 8,962 Operating income (loss) 22,584 3,161 (462 ) 2,699 Interest and other income 37 — — — Interest: Expense incurred, net (7,549 ) (4,145 ) (545 ) (4,690 ) Amortization of deferred financing costs (218 ) — — — Income (loss) before income and other taxes and (loss) from 14,854 (984 ) (1,007 ) (1,991 ) Income and other tax (expense) benefit (44 ) (13 ) — (13 ) (Loss) from investments in unconsolidated entities (731 ) — — — Net income (loss) $ 14,079 $ (997 ) $ (1,007 ) $ (2,004 ) (1) Includes the company's unconsolidated interest in an entity that owns the land underlying our Wisconsin Place apartment property and owns and operates the parking facility. This entity is excluded from the property and apartment unit count. (2) All debt is non-recourse to the Company. Note: The above tables exclude EQR's ownership interest in ERPOP and the Company's interests in unconsolidated joint ventures entered into with AvalonBay Communities, Inc. (“AVB”) in connection with the acquisition of certain real estate related assets from Archstone Enterprise LP (such assets are referred to herein as "Archstone"). These ventures owned certain 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 $42.1 million at June 30, 2016 . The ventures are owned 60% by the Company and 40% by AVB.

Deposits - Restricted (Tables)

Deposits - Restricted (Tables)	6 Months Ended
	Jun. 30, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Escrow Deposits [Table Text Block]	The following table presents the Company’s escrow deposits as of June 30, 2016 and December 31, 2015 (amounts in thousands): June 30, December 31, Real estate taxes and insurance $ 2,817 $ 1,977 Replacement reserves 3,916 3,962 Mortgage principal reserves/sinking funds 54,126 50,155 Other 852 852 Totals $ 61,711 $ 56,946
Schedule of Restricted Cash and Cash Equivalents [Table Text Block]	The following table presents the Company’s restricted deposits as of June 30, 2016 and December 31, 2015 (amounts in thousands): June 30, December 31, Tax-deferred (1031) exchange proceeds $ 34,032 $ — Earnest money on pending acquisitions — 1,000 Restricted deposits on real estate investments 3,860 6,077 Resident security and utility deposits 39,336 48,458 Other 359 358 Totals $ 77,587 $ 55,893

Derivative and Other Fair Val35

Derivative and Other Fair Value Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Derivative Instrument Table	The following table summarizes the Company’s consolidated derivative instruments at June 30, 2016 (dollar amounts are in thousands): Fair Value Forward Current Notional Balance $ 450,000 $ 50,000 Indicative Interest Rate 2.375 % 2.500 % 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 June 30, 2016 and December 31, 2015 , respectively (amounts in thousands): Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 6/30/2016 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) 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 $ 12,045 $ — $ 12,045 $ — Supplemental Executive Retirement Plan Other Assets 116,287 116,287 — — Total $ 128,332 $ 116,287 $ 12,045 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 5,140 $ — $ 5,140 $ — Supplemental Executive Retirement Plan Other Liabilities 116,287 116,287 — — Total $ 121,427 $ 116,287 $ 5,140 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 478,324 $ — $ 478,324 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet Location 12/31/2015 Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) 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 $ —
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 six months ended June 30, 2016 and 2015 , respectively (amounts in thousands): June 30, 2016 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 on Hedged Item Derivatives designated as hedging instruments: Interest Rate Contracts: Interest Rate Swaps Interest expense $ 8,390 Fixed rate debt Interest expense $ (8,390 ) Total $ 8,390 $ (8,390 ) June 30, 2015 Type of Fair Value Hedge Location of Derivative Amount of Derivative Hedged Item Income Statement Amount of Gain/(Loss) Recognized in Income on Hedged Item Derivatives designated as hedging instruments: Interest Rate Contracts: Interest Rate Swaps Interest expense $ 2,358 Fixed rate debt Interest expense $ (2,358 ) Total $ 2,358 $ (2,358 )
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 six months ended June 30, 2016 and 2015 , respectively (amounts in thousands): Effective Portion Ineffective Portion June 30, 2016 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/ (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/ Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/ Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (4,467 ) Interest expense $ (32,922 ) N/A $ — Total $ (4,467 ) $ (32,922 ) $ — Effective Portion Ineffective Portion June 30, 2015 Type of Cash Flow Hedge Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain/ (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/ Location of Gain/(Loss) Recognized in Income on Derivative Amount of Gain/ Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ (142 ) Interest expense $ (8,911 ) Interest expense $ (30 ) Total $ (142 ) $ (8,911 ) $ (30 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
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): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 Numerator for net income per share – basic: Income from continuing operations $ 3,960,353 $ 488,573 $ 228,365 $ 298,504 Allocation to Noncontrolling Interests – Operating Partnership, net (152,093 ) (18,403 ) (8,779 ) (11,350 ) Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (1,545 ) (1,487 ) (781 ) (844 ) Preferred distributions (1,545 ) (1,724 ) (772 ) (833 ) Premium on redemption of Preferred Shares — (2,789 ) — — Income from continuing operations available to Common Shares, net of 3,805,170 464,170 218,033 285,477 Discontinued operations, net of Noncontrolling Interests (118 ) 259 34 110 Numerator for net income per share – basic $ 3,805,052 $ 464,429 $ 218,067 $ 285,587 Numerator for net income per share – diluted: Income from continuing operations $ 3,960,353 $ 488,573 $ 228,365 $ 298,504 Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (1,545 ) (1,487 ) (781 ) (844 ) Preferred distributions (1,545 ) (1,724 ) (772 ) (833 ) Premium on redemption of Preferred Shares — (2,789 ) — — Income from continuing operations available to Common Shares 3,957,263 482,573 226,812 296,827 Discontinued operations, net (122 ) 269 35 114 Numerator for net income per share – diluted $ 3,957,141 $ 482,842 $ 226,847 $ 296,941 Denominator for net income per share – basic and diluted: Denominator for net income per share – basic 364,820 363,288 365,047 363,476 Effect of dilutive securities: OP Units 13,792 13,592 13,887 13,587 Long-term compensation shares/units 3,400 3,466 3,131 3,428 Denominator for net income per share – diluted 382,012 380,346 382,065 380,491 Net income per share – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per share – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78 Net income per share – basic: Income from continuing operations available to Common Shares, net of $ 10.43 $ 1.28 $ 0.60 $ 0.79 Discontinued operations, net of Noncontrolling Interests — — — — Net income per share – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per share – diluted: Income from continuing operations available to Common Shares $ 10.36 $ 1.27 $ 0.59 $ 0.78 Discontinued operations, net — — — — Net income per share – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78
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): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 Numerator for net income per Unit – basic and diluted: Income from continuing operations $ 3,960,353 $ 488,573 $ 228,365 $ 298,504 Net (income) attributable to Noncontrolling Interests – Partially Owned Properties (1,545 ) (1,487 ) (781 ) (844 ) Allocation to Preference Units (1,545 ) (1,724 ) (772 ) (833 ) Allocation to premium on redemption of Preference Units — (2,789 ) — — Income from continuing operations available to Units 3,957,263 482,573 226,812 296,827 Discontinued operations, net (122 ) 269 35 114 Numerator for net income per Unit – basic and diluted $ 3,957,141 $ 482,842 $ 226,847 $ 296,941 Denominator for net income per Unit – basic and diluted: Denominator for net income per Unit – basic 378,612 376,880 378,934 377,063 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting of the Company’s 3,400 3,466 3,131 3,428 Denominator for net income per Unit – diluted 382,012 380,346 382,065 380,491 Net income per Unit – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per Unit – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78 Net income per Unit – basic: Income from continuing operations available to Units $ 10.43 $ 1.28 $ 0.60 $ 0.79 Discontinued operations, net — — — — Net income per Unit – basic $ 10.43 $ 1.28 $ 0.60 $ 0.79 Net income per Unit – diluted: Income from continuing operations available to Units $ 10.36 $ 1.27 $ 0.59 $ 0.78 Discontinued operations, net — — — — Net income per Unit – diluted $ 10.36 $ 1.27 $ 0.59 $ 0.78

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2016
Components of discontinued operations	The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during the six months and quarters ended June 30, 2016 and 2015 (amounts in thousands). Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 REVENUES Rental income $ 217 $ 338 $ 99 $ 177 Total revenues 217 338 99 177 EXPENSES (1) Property and maintenance (5 ) (67 ) (2 ) — Real estate taxes and insurance 2 53 1 1 General and administrative 66 71 62 65 Total expenses 63 57 61 66 Discontinued operating income 154 281 38 111 Interest and other income — 3 — 3 Other expenses (280 ) — — — Income and other tax (expense) benefit (11 ) (15 ) (3 ) — Discontinued operations (137 ) 269 35 114 Net gain on sales of discontinued operations 15 — — — Discontinued operations, net $ (122 ) $ 269 $ 35 $ 114 (1) Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.
Starwood Portfolio [Member]
Components of discontinued operations	As a result, the following table summarizes the results of operations attributable to the Starwood Transaction for the six months and quarters ended June 30, 2016 and 2015 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 REVENUES Rental income $ 30,421 $ 209,911 $ 304 $ 106,202 Total revenues 30,421 209,911 304 106,202 EXPENSES (1) Property and maintenance 7,923 38,702 33 19,616 Real estate taxes and insurance 2,932 24,624 60 12,477 Property management 2 6 — 3 General and administrative 15 25 14 24 Depreciation — 52,432 — 26,238 Total expenses 10,872 115,789 107 58,358 Operating income 19,549 94,122 197 47,844 Interest and other income 11 — 9 — Interest (2): Expense incurred, net (374 ) (342 ) (46 ) (178 ) Amortization of deferred financing costs (707 ) (49 ) — (25 ) Income and other tax (expense) benefit (1 ) (1 ) (1 ) (1 ) Net gain (loss) on sales of real estate properties 3,161,200 — (21 ) — Income from operations attributable to controlling interests – Operating Partnership 3,179,678 93,730 138 47,640 Income from operations attributable to Noncontrolling Interests – Operating Partnership (122,138 ) (3,574 ) (6 ) (1,820 ) Income from operations attributable to controlling interests – Company $ 3,057,540 $ 90,156 $ 132 $ 45,820 (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 at or before closing.

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2016
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 six months and quarters ended June 30, 2016 and 2015 , respectively (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2016 2015 2016 2015 Rental income $ 1,211,104 $ 1,341,114 $ 594,939 $ 676,508 Property and maintenance expense (205,472 ) (242,565 ) (96,307 ) (118,005 ) Real estate taxes and insurance expense (157,611 ) (169,551 ) (77,415 ) (83,119 ) Total operating expenses (363,083 ) (412,116 ) (173,722 ) (201,124 ) Net operating income $ 848,021 $ 928,998 $ 421,217 $ 475,384
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following tables present NOI for each segment from our rental real estate specific to continuing operations for the six months and quarters ended June 30, 2016 and 2015 , respectively, as well as total assets and capital expenditures at June 30, 2016 (amounts in thousands): Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 181,849 $ 52,847 $ 129,002 $ 171,169 $ 52,082 $ 119,087 San Diego 43,306 11,696 31,610 40,874 11,417 29,457 Orange County 39,116 9,332 29,784 36,922 9,327 27,595 Subtotal – Southern California 264,271 73,875 190,396 248,965 72,826 176,139 New York 227,736 78,629 149,107 222,210 77,223 144,987 Washington D.C. 210,416 62,296 148,120 208,247 62,646 145,601 San Francisco 182,485 44,428 138,057 168,047 42,909 125,138 Boston 123,890 34,272 89,618 120,294 36,320 83,974 Seattle 75,565 21,392 54,173 71,250 19,868 51,382 All Other Markets 14,754 5,992 8,762 14,104 6,374 7,730 Total same store 1,099,117 320,884 778,233 1,053,117 318,166 734,951 Non-same store/other (2) (3) Los Angeles 16,460 5,726 10,734 13,825 4,766 9,059 Orange County 2,358 685 1,673 — — — Subtotal – Southern California 18,818 6,411 12,407 13,825 4,766 9,059 New York 15,714 7,533 8,181 1,291 1,453 (162 ) Washington D.C. 1,818 346 1,472 2,062 380 1,682 San Francisco 13,328 4,710 8,618 640 615 25 Boston 5,542 1,415 4,127 3,375 782 2,593 Seattle 12,584 3,035 9,549 4,003 1,090 2,913 Other (3) 44,183 18,749 25,434 262,801 84,864 177,937 Total non-same store/other 111,987 42,199 69,788 287,997 93,950 194,047 Total $ 1,211,104 $ 363,083 $ 848,021 $ 1,341,114 $ 412,116 $ 928,998 (1) Same store primarily includes all properties acquired or completed that are stabilized prior to January 1, 2015, less properties subsequently sold, which represented 72,494 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2015, plus any properties in lease-up and not stabilized as of January 1, 2015. (3) Other includes development, other corporate operations and operations prior to sale for properties sold from 2014 through 2016 that do not meet the new discontinued operations criteria. Quarter Ended June 30, 2016 Quarter Ended June 30, 2015 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 91,699 $ 26,489 $ 65,210 $ 86,515 $ 25,893 $ 60,622 San Diego 21,877 5,861 16,016 20,643 5,756 14,887 Orange County 19,802 4,599 15,203 18,601 4,639 13,962 Subtotal – Southern California 133,378 36,949 96,429 125,759 36,288 89,471 New York 114,532 38,487 76,045 111,885 37,716 74,169 Washington D.C. 106,148 30,871 75,277 104,907 30,609 74,298 San Francisco 91,811 22,230 69,581 85,224 21,390 63,834 Boston 62,272 16,848 45,424 60,467 17,470 42,997 Seattle 40,401 11,344 29,057 38,103 10,564 27,539 All Other Markets 7,480 2,840 4,640 7,137 2,849 4,288 Total same store 556,022 159,569 396,453 533,482 156,886 376,596 Non-same store/other (2) (3) Los Angeles 9,198 3,021 6,177 6,505 2,382 4,123 Orange County 1,201 350 851 — — — Subtotal – Southern California 10,399 3,371 7,028 6,505 2,382 4,123 New York 8,628 3,898 4,730 1,006 1,021 (15 ) Washington D.C. 859 166 693 1,017 183 834 San Francisco 8,043 2,647 5,396 524 394 130 Boston 2,909 698 2,211 2,433 580 1,853 Seattle 4,827 1,164 3,663 68 88 (20 ) Other (3) 3,252 2,209 1,043 131,473 39,590 91,883 Total non-same store/other 38,917 14,153 24,764 143,026 44,238 98,788 Total $ 594,939 $ 173,722 $ 421,217 $ 676,508 $ 201,124 $ 475,384 (1) Same store primarily includes all properties acquired or completed that are stabilized prior to April 1, 2015, less properties subsequently sold, which represented 72,781 apartment units. (2) Non-same store primarily includes properties acquired after April 1, 2015, plus any properties in lease-up and not stabilized as of April 1, 2015. (3) Other includes development, other corporate operations and operations prior to sale for properties sold from 2014 through 2016 that do not meet the new discontinued operations criteria. Six Months Ended June 30, 2016 Total Assets Capital Expenditures Same store (1) Los Angeles $ 2,550,146 $ 11,718 San Diego 480,150 2,465 Orange County 265,300 3,741 Subtotal – Southern California 3,295,596 17,924 New York 4,314,790 9,838 Washington D.C. 3,965,195 13,191 San Francisco 2,501,535 10,250 Boston 1,789,339 8,285 Seattle 1,045,598 4,800 All Other Markets 78,771 594 Total same store 16,990,824 64,882 Non-same store/other (2) (3) Los Angeles 455,857 5,803 Orange County 76,337 26 Subtotal – Southern California 532,194 5,829 New York 436,213 33 Washington D.C. 45,869 308 San Francisco 951,966 261 Boston 169,544 357 Seattle 331,810 432 Other (3) 1,771,502 2,348 Total non-same store/other 4,239,098 9,568 Total $ 21,229,922 $ 74,450 (1) Same store primarily includes all properties acquired or completed that are stabilized prior to January 1, 2015, less properties subsequently sold, which represented 72,494 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2015, plus any properties in lease-up and not stabilized as of January 1, 2015. (3) Other includes development, other corporate operations and capital expenditures for properties sold.

Business (Details)

Business (Details)	Jun. 30, 2016
Business (Textuals) [Abstract]
Noncontrolling Interest, Ownership Percentage by Parent	96.10%
Number of States in which Entity Operates	11
Property/Unit schedule
Properties	315
Apartment Units	79,458
Wholly Owned Properties
Property/Unit schedule
Properties	291
Apartment Units	73,853
Master-Leased Properties – Consolidated
Property/Unit schedule
Properties	3
Apartment Units	853
Partially Owned Properties – Consolidated
Property/Unit schedule
Properties	18
Apartment Units	3,471
Partially Owned Properties – Unconsolidated
Property/Unit schedule
Properties	3
Apartment Units	1,281

Summary of Significant Accoun40

Summary of Significant Accounting Policies (Details) $ in Thousands	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Deferred Finance Costs, Net		$ 0
Other assets	$ 398,417	428,899
Mortgage notes payable, net	4,147,999	4,685,134
Notes, net	$ 4,362,995	5,848,956
Properties	315
Apartment Units	79,458
Noncontrolling Interests – Partially Owned Properties	$ 4,278	4,608
Scenario, Previously Reported [Member]
Deferred Finance Costs, Net		54,004
Other assets		422,027
Mortgage notes payable, net		4,704,870
Notes, net		5,876,352
Partially Owned Properties – Consolidated
Properties	18
Apartment Units	3,471
Limited Life Partnership Properties [Member]
Properties	5
Noncontrolling Interests – Partially Owned Properties	$ 9,200
Noncontrolling Interests Settlement Value	54,600
Other assets
Deferred Finance Costs, Net	5,300
Mortgage notes payable, net
Deferred Finance Costs, Net	17,600
Notes, net
Deferred Finance Costs, Net	$ 23,800
Adjustments for New Accounting Pronouncement [Member]
Deferred Finance Costs, Net		(54,004)
Other assets		6,872
Mortgage notes payable, net		(19,736)
Notes, net		$ (27,396)

Equity and Redeemable Noncontro

Equity and Redeemable Noncontrolling Interests of Equity Residential (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Common Shares of beneficial interest, shares outstanding	365,550,636	364,755,444
Common Shares Issued:
Conversion of OP Units	9,840
Exercise of share options	599,634
Employee Share Purchase Plan (ESPP)	33,065
Restricted share grants, net	152,653
Units
Common Shares And Units Outstanding	380,257,233
Units Ownership Interest in Operating Partnership	3.90%
Redeemable Noncontrolling Interests – Operating Partnership	$ 478,324	$ 566,783
Change in market value of Redeemable Noncontrolling Interests – Operating Partnership	(99,190)
Change in carrying value of Redeemable Noncontrolling Interests – Operating Partnership	$ 10,731
ERPOP [Member]
Common Shares Issued:
Conversion of OP Units	(9,840)
Exercise of share options	599,634
Employee Share Purchase Plan (ESPP)	33,065
Restricted share grants, net	152,653
Units
Total Units Outstanding	14,706,597	14,427,164
Restricted unit grants, net	289,273
Shares Issued During Period Shares Conversion Of Units To Common Shares	(9,840)
Common Shares And Units Outstanding	380,257,233	379,182,608
Units Ownership Interest in Operating Partnership	3.90%

Capital and Redeemable Limited

Capital and Redeemable Limited Partners of ERP Operating Limited Partnership (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Common Shares And Units Outstanding	380,257,233
Exercise of EQR share options	599,634
EQR’s Employee Share Purchase Plan (ESPP)	33,065
Restricted share grants, net	152,653
Conversion of Limited Partner OP Units to EQR Common Shares	9,840
Units Ownership Interest in Operating Partnership	3.90%
ERPOP [Member]
Common Shares And Units Outstanding	380,257,233	379,182,608
Exercise of EQR share options	599,634
EQR’s Employee Share Purchase Plan (ESPP)	33,065
Restricted share grants, net	152,653
Restricted unit grants, net	289,273
Total Units Outstanding	14,706,597	14,427,164
Conversion of Limited Partner OP Units to EQR Common Shares	(9,840)
Units Ownership Interest in Operating Partnership	3.90%
Redeemable Limited Partners	$ 478,324	$ 566,783
Limited Partners Change In Redemption Value	(99,190)
Limited Partners Change In Carrying Value	$ 10,731

Equity, Capital and Other Int43

Equity, Capital and Other Interests Preferred (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of June 30, 2016 and December 31, 2015	$ 37,280	$ 37,280
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 June 30, 2016 and December 31, 2015	$ 37,280	$ 37,280
Series K Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock Preference Units Issued	745,600	745,600
Preferred Stock Preference Units Outstanding	745,600	745,600
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
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of June 30, 2016 and December 31, 2015	$ 37,280	$ 37,280
Series K Preferred Stock [Member] | ERPOP [Member]
Class of Stock [Line Items]
Preferred Stock Preference Units Issued	745,600	745,600
Preferred Stock Preference Units Outstanding	745,600	745,600
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 June 30, 2016 and December 31, 2015	$ 37,280	$ 37,280

Other (Details)

Other (Details) - shares	Jun. 30, 2016	Mar. 31, 2016
Additional Common Shares Authorized	13,000,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	13,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	13,000,000	12,968,760

Real Estate (Details)

Real Estate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Land	$ 5,835,195		$ 5,835,195		$ 5,864,046
Depreciable property:
Buildings and improvements	16,735,299		16,735,299		16,346,829
Furniture, fixtures and equipment	1,269,413		1,269,413		1,207,098
In-Place lease intangibles	469,679		469,679		483,160
Land Available for Development	138,221		138,221		158,843
Construction-in-progress	799,947		799,947		1,122,376
Investment in real estate	25,247,754		25,247,754		25,182,352
Accumulated depreciation	(5,119,342)		(5,119,342)		(4,905,406)
Investment in real estate, net	20,128,412		20,128,412		20,276,946
Lease intangible assets	179,511		179,511		179,511
Accumulated amortization	(15,712)		(15,712)		(13,451)
Lease intangible assets, net	163,799		163,799		166,060
Lease intangible liabilities	7,670		7,670		7,670
Accumulated amortization	(3,967)		(3,967)		(3,414)
Lease intangible liabilities, net	3,703		3,703		4,256
Amortization of above/below market leases			1,708	$ 1,691
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	1,717		1,717
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	3,781		3,781
Finite-Lived Intangible Assets, Amortization Expense, Year Two	4,250		4,250
Finite-Lived Intangible Assets, Amortization Expense, Year Three	4,250		4,250
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4,250		4,250
Finite-Lived Intangible Assets, Amortization Expense, Year Five	4,254		4,254
Assets [Member]
Depreciable property:
Lease intangibles – below market	178,251		178,251		178,251
Retail lease intangibles – above market	1,260		1,260		1,260
Ground Lease [Member]
Depreciable property:
Amortization of above/below market leases	1,100	$ 1,100	2,200	2,200
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	2,161		2,161
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	4,321		4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Two	4,321		4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Three	4,321		4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4,321		4,321
Finite-Lived Intangible Assets, Amortization Expense, Year Five	4,321		4,321
Retail Site [Member]
Depreciable property:
Amortization of above/below market leases	300	$ 300	500	$ 500
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	(444)		(444)
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	(540)		(540)
Finite-Lived Intangible Assets, Amortization Expense, Year Two	(71)		(71)
Finite-Lived Intangible Assets, Amortization Expense, Year Three	(71)		(71)
Finite-Lived Intangible Assets, Amortization Expense, Year Four	(71)		(71)
Finite-Lived Intangible Assets, Amortization Expense, Year Five	(67)		(67)
Liability [Member]
Depreciable property:
Lease intangibles – below market	5,270		5,270		5,270
Ground lease intangibles – above market	2,400		2,400		2,400
Projects under development [Member]
Depreciable property:
Land	188,563		188,563		284,995
Construction-in-progress	611,384		611,384		837,381
Land held for development [Member]
Depreciable property:
Land Available for Development	98,549		98,549		120,007
Construction-in-progress	$ 39,672		$ 39,672		$ 38,836

Acquisitions and Dispositions (

Acquisitions and Dispositions (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)property	Jun. 30, 2015USD ($)
Properties acquired | property			3
Apartment Units			479
Purchase Price	$ 204,134		$ 204,134
Disposed Properties | property			83
Apartment Units			26,890
Sales Price			$ 6,454,858
Net gain on sales of real estate properties	57,356	$ 148,802	3,780,835	$ 228,753
Net gain (loss) on sales of land parcels	0	0	$ 11,722	(1)
Rental Properties – Consolidated (1)
Properties acquired | property			3
Apartment Units			479
Purchase Price	204,134		$ 204,134
Disposed Properties | property			83
Apartment Units			26,890
Sales Price			$ 6,427,403
Land [Member]
Purchase Price	80,900		$ 80,900
Disposed Land Parcels | property			2
Sales Price			$ 27,455
Depreciable Property [Member]
Purchase Price	123,200		$ 123,200
Starwood Portfolio [Member]
Disposed Properties | property			72
Apartment Units			23,262
Sales Price			$ 5,365,000
Net gain on sales of real estate properties	$ (21)	$ 0	$ 3,161,200	$ 0
Starwood Portfolio [Member] | Rental Properties – Consolidated (1)
Disposed Properties | property			72
Apartment Units			23,262

Real Estate Starwood Dispositio

Real Estate Starwood Disposition (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015$ / shares	Jun. 30, 2016USD ($)property$ / shares	Jun. 30, 2015$ / shares	Dec. 31, 2015USD ($)
Disposed Properties | property			83
Apartment Units			26,890
Sales Price			$ 6,454,858
Earnest money on pending transactions	$ 0		0		$ 1,000
Land	5,835,195		5,835,195		5,864,046
Depreciable property Abstract
Buildings and improvements	16,735,299		16,735,299		16,346,829
Furniture, fixtures and equipment	1,269,413		1,269,413		1,207,098
In-Place lease intangibles	469,679		469,679		483,160
Investment in real estate	25,247,754		25,247,754		25,182,352
Accumulated depreciation	(5,119,342)		(5,119,342)		(4,905,406)
Real estate held for sale	$ 0		$ 0		2,181,135
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.50375	$ 0.5525	$ 9.0075	$ 1.105
Starwood Portfolio [Member]
Disposed Properties | property			72
Apartment Units			23,262
Sales Price			$ 5,365,000
Earnest money on pending transactions					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
Investment in real estate					3,360,345
Accumulated depreciation					(1,179,210)
Real estate held for sale					$ 2,181,135
Common Stock, Dividends, Per Share, Declared | $ / shares			$ 8
Payments of Dividends			$ 3,000,000
Rental Properties – Consolidated (1)
Disposed Properties | property			83
Apartment Units			26,890
Sales Price			$ 6,427,403
Rental Properties – Consolidated (1) | Starwood Portfolio [Member]
Disposed Properties | property			72
Apartment Units			23,262
South Florida | Starwood Portfolio [Member]
Disposed Properties | property			33
Apartment Units			10,742
Denver | Starwood Portfolio [Member]
Disposed Properties | property			18
Apartment Units			6,635
Washington D.C. | Starwood Portfolio [Member]
Disposed Properties | property			10
Apartment Units			3,020
Seattle | Starwood Portfolio [Member]
Disposed Properties | property			8
Apartment Units			1,721
Los Angeles | Starwood Portfolio [Member]
Disposed Properties | property			3
Apartment Units			1,144

Commitments to Acquire_Dispos48

Commitments to Acquire/Dispose of Real Estate (Details) - Subsequent Event [Member] $ in Thousands	Jul. 29, 2016USD ($)property
Commitments to Dispose of Real Estate
Properties Contracted To Be Disposed | property	9
Units Contracted To Be Disposed	1,344
Sales Price For Commitments To Dispose	$ 227,830
Rental Properties Disposed of [Member]
Commitments to Dispose of Real Estate
Properties Contracted To Be Disposed | property	9
Units Contracted To Be Disposed	1,344
Sales Price For Commitments To Dispose	$ 191,680
Land [Member]
Commitments to Dispose of Real Estate
Land Parcels Contracted To Be Disposed	2
Sales Price For Commitments To Dispose	$ 36,150

Investments in Partially Owne49

Investments in Partially Owned Entities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Feb. 27, 2013
Partially Owned Property Balance Sheet Schedule
Properties	315		315
Apartment Units	79,458		79,458
ASSETS
Investment in real estate	$ 25,247,754,000		$ 25,247,754,000		$ 25,182,352,000
Accumulated depreciation	(5,119,342,000)		(5,119,342,000)		(4,905,406,000)
Investment in real estate, net	20,128,412,000		20,128,412,000		20,276,946,000
Cash and cash equivalents	497,843,000	$ 92,109,000	497,843,000	$ 92,109,000	42,276,000	$ 40,080,000
Investments in unconsolidated entities	65,952,000		65,952,000		68,101,000
Deposits – restricted	77,587,000		77,587,000		55,893,000
Other assets	398,417,000		398,417,000		428,899,000
Total assets	21,229,922,000		21,229,922,000		23,110,196,000
LIABILITIES AND EQUITY
Secured Debt	4,147,999,000		4,147,999,000		4,685,134,000
Accounts payable & accrued expenses	186,629,000		186,629,000		187,124,000
Accrued interest payable	58,175,000		58,175,000		85,221,000
Other Liabilities	333,551,000		333,551,000		366,387,000
Security deposits	64,242,000		64,242,000		77,582,000
Total liabilities	9,344,994,000		9,344,994,000		11,847,058,000
Noncontrolling Interests – Partially Owned Properties/Partners' equity	4,278,000		4,278,000		4,608,000
Total liabilities and equity	21,229,922,000		21,229,922,000		$ 23,110,196,000
Partially Owned Property Income Statement Schedule
Operating revenue	595,154,000	679,112,000	1,214,237,000	1,345,483,000
Property management	20,991,000	21,792,000	44,486,000	44,557,000
General and administrative/other	176,127,000	194,282,000	349,012,000	388,803,000
Depreciation	18,296,000	15,659,000	35,013,000	35,421,000
Operating income	206,018,000	246,255,000	422,643,000	464,586,000
Interest and other income	56,525,000	6,481,000	59,583,000	6,650,000
Interest:
Expense incurred, net	(86,472,000)	(110,866,000)	(299,964,000)	(219,648,000)
Amortization of deferred financing costs	(2,345,000)	(2,538,000)	(7,739,000)	(5,127,000)
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	172,222,000	137,562,000	170,463,000	244,761,000
Income and other tax (expense) benefit	(413,000)	(326,000)	(763,000)	(369,000)
(Loss) income from investments in unconsolidated entities	(800,000)	12,466,000	(1,904,000)	15,429,000
Net income	$ 228,400,000	$ 298,618,000	$ 3,960,231,000	$ 488,842,000
Consolidated VIE
Partially Owned Property Balance Sheet Schedule
Properties	18		18
Apartment Units	3,471		3,471
ASSETS
Investment in real estate	$ 667,414,000		$ 667,414,000
Accumulated depreciation	(214,810,000)		(214,810,000)
Investment in real estate, net	452,604,000		452,604,000
Cash and cash equivalents	17,860,000		17,860,000
Investments in unconsolidated entities	48,127,000		48,127,000
Deposits – restricted	353,000		353,000
Other assets	25,658,000		25,658,000
Total assets	544,602,000		544,602,000
LIABILITIES AND EQUITY
Secured Debt	318,114,000		318,114,000
Accounts payable & accrued expenses	1,966,000		1,966,000
Accrued interest payable	1,085,000		1,085,000
Other Liabilities	754,000		754,000
Security deposits	1,959,000		1,959,000
Total liabilities	323,878,000		323,878,000
Noncontrolling Interests – Partially Owned Properties/Partners' equity	4,278,000		4,278,000
Company equity/General and Limited Partners' Capital	216,446,000		216,446,000
Total equity/capital	220,724,000		220,724,000
Total liabilities and equity	$ 544,602,000		544,602,000
Partially Owned Property Income Statement Schedule
Operating revenue			46,331,000
Operating Expenses			11,319,000
Net operating income			35,012,000
Property management			1,633,000
General and administrative/other			10,755,000
Depreciation			40,000
Operating income			22,584,000
Interest and other income			37,000
Interest:
Expense incurred, net			(7,549,000)
Amortization of deferred financing costs			(218,000)
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations			14,854,000
Income and other tax (expense) benefit			(44,000)
(Loss) income from investments in unconsolidated entities			(731,000)
Net income			$ 14,079,000
Unconsolidated Non-VIE
Partially Owned Property Balance Sheet Schedule
Properties	2		2
Apartment Units	945		945
ASSETS
Investment in real estate	$ 234,807,000		$ 234,807,000
Accumulated depreciation	(27,615,000)		(27,615,000)
Investment in real estate, net	207,192,000		207,192,000
Cash and cash equivalents	6,860,000		6,860,000
Investments in unconsolidated entities	0		0
Deposits – restricted	262,000		262,000
Other assets	448,000		448,000
Total assets	214,762,000		214,762,000
LIABILITIES AND EQUITY
Secured Debt	145,423,000		145,423,000
Accounts payable & accrued expenses	1,239,000		1,239,000
Accrued interest payable	691,000		691,000
Other Liabilities	312,000		312,000
Security deposits	488,000		488,000
Total liabilities	148,153,000		148,153,000
Noncontrolling Interests – Partially Owned Properties/Partners' equity	62,282,000		62,282,000
Company equity/General and Limited Partners' Capital	4,327,000		4,327,000
Total equity/capital	66,609,000		66,609,000
Total liabilities and equity	214,762,000		214,762,000
Partially Owned Property Income Statement Schedule
Operating revenue			13,139,000
Operating Expenses			4,348,000
Net operating income			8,791,000
Property management			383,000
General and administrative/other			5,246,000
Depreciation			1,000
Operating income			3,161,000
Interest and other income			0
Interest:
Expense incurred, net			(4,145,000)
Amortization of deferred financing costs			0
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations			(984,000)
Income and other tax (expense) benefit			(13,000)
(Loss) income from investments in unconsolidated entities			0
Net income			(997,000)
Unconsolidated Non-VIE | Residual JV [Domain]
ASSETS
Investments in unconsolidated entities	$ (500,000)		$ (500,000)				$ 147,600,000
Investments In Partially Owned Entities (Textuals) [Abstract]
Business Acquisition, Percentage of Voting Interests Acquired	60.00%		60.00%
Joint Venture Partner Ownership Percentage	40.00%		40.00%
Unconsolidated VIE
Partially Owned Property Balance Sheet Schedule
Properties	1		1
Apartment Units	336		336
ASSETS
Investment in real estate	$ 229,685,000		$ 229,685,000
Accumulated depreciation	(51,053,000)		(51,053,000)
Investment in real estate, net	178,632,000		178,632,000
Cash and cash equivalents	1,068,000		1,068,000
Investments in unconsolidated entities	0		0
Deposits – restricted	47,000		47,000
Other assets	913,000		913,000
Total assets	180,660,000		180,660,000
LIABILITIES AND EQUITY
Secured Debt	29,123,000		29,123,000
Accounts payable & accrued expenses	351,000		351,000
Accrued interest payable	0		0
Other Liabilities	541,000		541,000
Security deposits	155,000		155,000
Total liabilities	30,170,000		30,170,000
Noncontrolling Interests – Partially Owned Properties/Partners' equity	104,272,000		104,272,000
Company equity/General and Limited Partners' Capital	46,218,000		46,218,000
Total equity/capital	150,490,000		150,490,000
Total liabilities and equity	$ 180,660,000		180,660,000
Partially Owned Property Income Statement Schedule
Operating revenue			5,794,000
Operating Expenses			2,337,000
Net operating income			3,457,000
Property management			38,000
General and administrative/other			3,716,000
Depreciation			165,000
Operating income			(462,000)
Interest and other income			0
Interest:
Expense incurred, net			(545,000)
Amortization of deferred financing costs			0
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations			(1,007,000)
Income and other tax (expense) benefit			0
(Loss) income from investments in unconsolidated entities			0
Net income			$ (1,007,000)
Partially Owned Properties – Unconsolidated
Partially Owned Property Balance Sheet Schedule
Properties	3		3
Apartment Units	1,281		1,281
ASSETS
Investment in real estate	$ 464,492,000		$ 464,492,000
Accumulated depreciation	(78,668,000)		(78,668,000)
Investment in real estate, net	385,824,000		385,824,000
Cash and cash equivalents	7,928,000		7,928,000
Investments in unconsolidated entities	0		0
Deposits – restricted	309,000		309,000
Other assets	1,361,000		1,361,000
Total assets	395,422,000		395,422,000
LIABILITIES AND EQUITY
Secured Debt	174,546,000		174,546,000
Accounts payable & accrued expenses	1,590,000		1,590,000
Accrued interest payable	691,000		691,000
Other Liabilities	853,000		853,000
Security deposits	643,000		643,000
Total liabilities	178,323,000		178,323,000
Noncontrolling Interests – Partially Owned Properties/Partners' equity	166,554,000		166,554,000
Company equity/General and Limited Partners' Capital	50,545,000		50,545,000
Total equity/capital	217,099,000		217,099,000
Total liabilities and equity	$ 395,422,000		395,422,000
Partially Owned Property Income Statement Schedule
Operating revenue			18,933,000
Operating Expenses			6,685,000
Net operating income			12,248,000
Property management			421,000
General and administrative/other			8,962,000
Depreciation			166,000
Operating income			2,699,000
Interest and other income			0
Interest:
Expense incurred, net			(4,690,000)
Amortization of deferred financing costs			0
Income before income and other taxes, (loss) income from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations			(1,991,000)
Income and other tax (expense) benefit			(13,000)
(Loss) income from investments in unconsolidated entities			0
Net income			$ (2,004,000)

Investments in Partially Owne50

Investments in Partially Owned Entities Operating Properties (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Properties	315
Apartment Units	79,458
Investments in unconsolidated entities	$ 65,952	$ 68,101
Mortgage notes payable, net	$ 4,147,999	$ 4,685,134
Consolidated VIE
Variable Interest Entity [Line Items]
Properties	18
Apartment Units	3,471
Investments in unconsolidated entities	$ 48,127
Mortgage notes payable, net	$ 318,114
Unconsolidated VIE
Variable Interest Entity [Line Items]
Properties	1
Apartment Units	336
Investments in unconsolidated entities	$ 0
Mortgage notes payable, net	$ 29,123
Operating Property [Member] | Consolidated VIE
Variable Interest Entity [Line Items]
Properties	17
Apartment Units	3,039
Wisconsin Place [Domain] | Consolidated VIE
Variable Interest Entity [Line Items]
Apartment Units	432
Business Acquisition, Percentage of Voting Interests Acquired	75.00%
Basis of joint venture	$ 173,300
Wisconsin Place [Domain] | Unconsolidated VIE
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	$ 48,100
Waterton Tenside [Domain] | Unconsolidated VIE
Variable Interest Entity [Line Items]
Apartment Units	336
Investments in unconsolidated entities	$ 3,800
Equity Method Investment, Ownership Percentage	20.00%
Mortgage notes payable, net	$ 29,100
Debt Instrument, Interest Rate, Stated Percentage	3.66%
Debt Instrument, Maturity Date	Dec. 1, 2018
Nexus Sawgrass [Member]
Variable Interest Entity [Line Items]
Apartment Units	501
Investments in unconsolidated entities	$ 4,700
Equity Method Investment, Ownership Percentage	20.00%
Mortgage notes payable, net	$ 48,600
Debt Instrument, Interest Rate, Stated Percentage	5.60%
Debt Instrument, Maturity Date	Jan. 1, 2021
Domain [Member]
Variable Interest Entity [Line Items]
Apartment Units	444
Investments in unconsolidated entities	$ 9,800
Equity Method Investment, Ownership Percentage	20.00%
Mortgage notes payable, net	$ 96,800
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Debt Instrument, Maturity Date	Jan. 1, 2022

Investments in Partially Owne51

Investments in Partially Owned Entities Other (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Feb. 27, 2013
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	$ 65,952	$ 68,101
Unconsolidated Non-VIE
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	0
Residual JV [Domain] | Unconsolidated Non-VIE
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	$ (500)		$ 147,600
Business Acquisition, Percentage of Voting Interests Acquired	60.00%
Joint Venture Partner Ownership Percentage	40.00%
Legacy JV [Domain] | Unconsolidated Non-VIE
Variable Interest Entity [Line Items]
Liquidation Value Preferred Interests	$ 42,100
Business Acquisition, Percentage of Voting Interests Acquired	60.00%
Joint Venture Partner Ownership Percentage	40.00%

Deposits - Restricted (Details)

Deposits - Restricted (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Tax-deferred (1031) exchange proceeds	$ 34,032	$ 0
Earnest money on pending acquisitions	0	1,000
Restricted deposits on real estate investments	3,860	6,077
Resident security and utility deposits	39,336	48,458
Other	359	358
Totals	77,587	55,893
Real estate taxes and insurance	2,817	1,977
Replacement reserves	3,916	3,962
Mortgage principal reserves/sinking funds	54,126	50,155
Other	852	852
Totals	$ 61,711	$ 56,946

Debt Mortgage Notes Payable (De

Debt Mortgage Notes Payable (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)property	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Mortgage notes payable	$ 4,147,999	$ 4,685,134
Noncash or Part Noncash Acquisition, Debt Assumed	$ 43,400
Properties acquired | property	3
Write Off Of Unamortized Deferred Financing Costs	$ 1,900
Write off unamortized premium discount	25,200
Mortgages [Member]
Debt Instrument [Line Items]
Repayments Of Long-term Debt	$ 4,700
Properties acquired | property	1
Write Off Of Unamortized Deferred Financing Costs	$ 1,400
Write off unamortized premium discount	$ 20,700
Debt Instrument, Maturity Date	May 28, 2061
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.10%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	7.20%
Weighted Average Mortgage Debt Interest Rate	4.34%
Bonds [Member]
Debt Instrument [Line Items]
Repayments Of Long-term Debt	$ 57,800
Prepayment Penalty Charges	200
Conventional Mortgage Loan [Member]
Debt Instrument [Line Items]
Repayments Of Long-term Debt	57,900
Credit enhanced debt [Member]
Debt Instrument [Line Items]
Mortgage notes payable	610,500
Fannie Mae Pool 3 [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Repayments Of Long-term Debt	$ 440,800
Debt Instrument, Interest Rate, Stated Percentage	6.256%
Prepayment Penalty Charges	$ 29,300

Debt Notes (Details)

Debt Notes (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Notes, net	$ 4,362,995		$ 5,848,956
Repayments of Notes Payable	1,500,000	$ 300,000
Write Off Of Unamortized Deferred Financing Costs	1,900
Write off unamortized premium discount	25,200
5.125% Notes [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 228,900
Debt Instrument, Interest Rate, Stated Percentage	5.125%
Prepayment Penalty Charges	$ 1,400
5.375% Notes [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 400,000
Debt Instrument, Interest Rate, Stated Percentage	5.375%
Prepayment Penalty Charges	$ 9,500
5.750% Notes [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 255,900
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Prepayment Penalty Charges	$ 16,500
7.125% Notes [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 46,100
Debt Instrument, Interest Rate, Stated Percentage	7.125%
Prepayment Penalty Charges	$ 4,600
4.625% Notes [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 250,000
Debt Instrument, Interest Rate, Stated Percentage	4.625%
Prepayment Penalty Charges	$ 31,600
7.570% Notes [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 48,000
Debt Instrument, Interest Rate, Stated Percentage	7.57%
Prepayment Penalty Charges	$ 19,300
Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	Jun. 1, 2045
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	1.232%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	7.57%
Weighted Average Interest Rate	4.62%
Paid at Maturity [Member] | 5.125% Notes [Member]
Debt Instrument [Line Items]
Repayments of Notes Payable	$ 271,100
Debt Instrument, Interest Rate, Stated Percentage	5.125%

Debt Line of Credit and Commerc

Debt Line of Credit and Commercial Paper (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
A 175 billion LOC [Member]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility	$ 1,750
A 250 billion LOC [Member]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility	$ 2,500
Debt Instrument, Maturity Date	Apr. 1, 2018
500.0 million ability to increase	$ 500
Debt Instrument, Basis Spread on Variable Rate	0.95%
Line Of Credit Facility Commitment Fee	15 Basis Points
Remaining borrowing capacity	$ 2,480
Amount restricted/dedicated to support letters of credit	$ 24.6
Weighted Average Interest Rate Revolving Credit Facility	1.34%
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Commercial paper, maximum borrowing capacity	$ 500
Weighted Average Interest Rate Commercial Paper	0.96%
London Interbank Offered Rate (LIBOR) [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 0.95%

Derivative and Other Fair Val56

Derivative and Other Fair Value Instruments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
2.375% Notes [Member]
Derivative [Line Items]
Proceeds from Issuance of Unsecured Debt	$ 450,000
Debt Instrument, Interest Rate, Stated Percentage	2.375%
Debt Instrument, Maturity Date	Jul. 1, 2019
Debt Instrument, Basis Spread on Variable Rate	0.61%
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 0.61%
Fair Value Hedges
Derivative [Line Items]
Current Notional Balance	$ 450,000
Indicative Interest Rate	2.375%
Maturity Date	P2019Y0M0D
Forward Starting Swaps
Derivative [Line Items]
Current Notional Balance	$ 50,000
Indicative Interest Rate	2.50%
Maturity Date	P2026Y0M0D

Derivative and Other Fair Val57

Derivative and Other Fair Value Instruments (Details 1) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Supplemental Executive Retirement Plan	$ 116,287	$ 105,942
Assets, Fair Value Disclosure	128,332	109,597
Supplemental Executive Retirement Plan	116,287	105,942
Financial and Nonfinancial Liabilities, Fair Value Disclosure	121,427	106,615
Redeemable Noncontrolling Interests – Operating Partnership	478,324	566,783
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)
Derivatives, Fair Value [Line Items]
Supplemental Executive Retirement Plan	116,287	105,942
Assets, Fair Value Disclosure	116,287	105,942
Supplemental Executive Retirement Plan	116,287	105,942
Financial and Nonfinancial Liabilities, Fair Value Disclosure	116,287	105,942
Redeemable Noncontrolling Interests – Operating Partnership	0	0
Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Supplemental Executive Retirement Plan	0	0
Assets, Fair Value Disclosure	12,045	3,655
Supplemental Executive Retirement Plan	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	5,140	673
Redeemable Noncontrolling Interests – Operating Partnership	478,324	566,783
Significant Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Supplemental Executive Retirement Plan	0	0
Assets, Fair Value Disclosure	0	0
Supplemental Executive Retirement Plan	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Redeemable Noncontrolling Interests – Operating Partnership	0	0
Fair Value Hedges
Derivatives, Fair Value [Line Items]
Derivative Asset	12,045	3,655
Fair Value Hedges | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Fair Value Hedges | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Derivative Asset	12,045	3,655
Fair Value Hedges | Significant Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Forward Starting Swaps
Derivatives, Fair Value [Line Items]
Derivative Liability	5,140	673
Forward Starting Swaps | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)
Derivatives, Fair Value [Line Items]
Derivative Liability	0	0
Forward Starting Swaps | Significant Other Observable Inputs (Level 2)
Derivatives, Fair Value [Line Items]
Derivative Liability	5,140	673
Forward Starting Swaps | Significant Unobservable Inputs (Level 3)
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 0	$ 0

Derivative and Other Fair Val58

Derivative and Other Fair Value Instruments (Details 3) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Derivatives designated as hedging instruments:
Amount of Gain/(Loss) Recognized in Income on Derivative	$ 8,390	$ 2,358
Amount of Gain/(Loss) Recognized in Income on Hedged Item	(8,390)	(2,358)
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	(4,467)	(142)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(32,922)	(8,911)
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income	0	(30)
Interest Rate Swaps
Derivatives designated as hedging instruments:
Amount of Gain/(Loss) Recognized in Income on Derivative	$ 8,390	$ 2,358
Hedged Item	Fixed rate debt	Fixed rate debt
Amount of Gain/(Loss) Recognized in Income on Hedged Item	$ (8,390)	$ (2,358)
Forward Starting Swaps
Derivatives designated as hedging instruments:
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	(4,467)	(142)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(32,922)	(8,911)
Ineffective Portion - Amount of Gain/ (Loss) Reclassifed from Accumulated OCI into Income	$ 0	$ (30)

Derivative and Other Fair Val59

Derivative and Other Fair Value Instruments (Details Textuals) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Mortgage notes payable	$ 4,147,999	$ 4,685,134
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	(123,300)	(151,800)
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	21,000
Mortgage notes payable, net
Derivative [Line Items]
Mortgage notes payable	4,100,000	4,700,000
Debt Instrument, Fair Value Disclosure	4,300,000	4,600,000
Unsecured Debt [Member]
Derivative [Line Items]
Unsecured Debt	4,400,000	6,200,000
Debt Instrument, Fair Value Disclosure	$ 4,800,000	$ 6,500,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income from continuing operations	$ 228,365	$ 298,504	$ 3,960,353	$ 488,573
Allocation to Noncontrolling Interests – Operating Partnership, net	(8,779)	(11,350)	(152,093)	(18,403)
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties	(781)	(844)	(1,545)	(1,487)
Preferred distributions	(772)	(833)	(1,545)	(1,724)
Premium on redemption of Preferred Shares	0	0	0	(2,789)
Income from continuing operations available to Common Shares, net of Noncontrolling Interests	218,033	285,477	3,805,170	464,170
Discontinued operations, net of Noncontrolling Interests	34	110	(118)	259
Numerator for net income per share – basic	218,067	285,587	3,805,052	464,429
Income from continuing operations available to Common Shares	226,812	296,827	3,957,263	482,573
Discontinued operations, net	35	114	(122)	269
Numerator for net income per share – diluted	$ 226,847	$ 296,941	$ 3,957,141	$ 482,842
Denominator for net income per share – basic	365,047	363,476	364,820	363,288
Effect of dilutive securities - OP Units	13,887	13,587	13,792	13,592
Effect of dilutive securities - Long-term compensation shares/units	3,131	3,428	3,400	3,466
Denominator for net income per share – diluted	382,065	380,491	382,012	380,346
Net income available to Common Shares	$ 0.60	$ 0.79	$ 10.43	$ 1.28
Net income available to Common Shares	0.59	0.78	10.36	1.27
Income from continuing operations available to Common Shares	0.60	0.79	10.43	1.28
Net income per share - basic - Discontinued operations, net of Noncontrolling Interests	0	0	0	0
Income from continuing operations available to Common Shares	0.59	0.78	10.36	1.27
Net income per share - diluted - discontinued operations, net	$ 0	$ 0	$ 0	$ 0
ERPOP [Member]
Income from continuing operations	$ 228,365	$ 298,504	$ 3,960,353	$ 488,573
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties	(781)	(844)	(1,545)	(1,487)
Allocation to Preference Units	(772)	(833)	(1,545)	(1,724)
Premium on redemption of Preferred Shares	0	0	0	(2,789)
Discontinued operations, net	$ 35	$ 114	$ (122)	$ 269
Effect of dilutive securities - Long-term compensation shares/units	3,131	3,428	3,400	3,466
Denominator for net income per share – diluted	382,065	380,491	382,012	380,346
Net income available to Common Shares	$ 0.60	$ 0.79	$ 10.43	$ 1.28
Net income available to Common Shares	0.59	0.78	10.36	1.27
Income from continuing operations available to Common Shares	0.60	0.79	10.43	1.28
Income from continuing operations available to Common Shares	$ 0.59	$ 0.78	$ 10.36	$ 1.27
Income from continuing operations available to Units	$ 226,812	$ 296,827	$ 3,957,263	$ 482,573
Numerator for net income per Unit – basic and diluted	$ 226,847	$ 296,941	$ 3,957,141	$ 482,842
Denominator for net income per Unit – basic	378,934	377,063	378,612	376,880
Net income per Unit - basic - Discontinued operations, net	$ 0	$ 0	$ 0	$ 0
Net income per Unit - diluted - Discontinued operations, net	$ 0	$ 0	$ 0	$ 0

Individually Significant Dispos

Individually Significant Dispositions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUES
Rental income	$ 594,939	$ 676,508	$ 1,211,104	$ 1,341,114
Total revenues	595,154	679,112	1,214,237	1,345,483
EXPENSES (1)
Cost of Property Repairs and Maintenance	96,307	118,005	205,472	242,565
Real Estate Taxes and Insurance	77,415	83,119	157,611	169,551
Property management	20,991	21,792	44,486	44,557
General and administrative	18,296	15,659	35,013	35,421
Depreciation	176,127	194,282	349,012	388,803
Total expenses	389,136	432,857	791,594	880,897
Operating income	206,018	246,255	422,643	464,586
Interest and other income	56,525	6,481	59,583	6,650
INTEREST (2)
Expense incurred, net	(86,472)	(110,866)	(299,964)	(219,648)
Amortization of deferred financing costs	(2,345)	(2,538)	(7,739)	(5,127)
Income and other tax (expense) benefit	(413)	(326)	(763)	(369)
Net gain on sales of real estate properties	57,356	148,802	3,780,835	228,753
Net income attributable to Noncontrolling Interests	(8,780)	(11,354)	(152,089)	(18,413)
Net income attributable to controlling interests	218,839	286,420	$ 3,806,597	$ 468,942
Starwood Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of consolidated NOI			2.30%	15.80%
REVENUES
Rental income	304	106,202	$ 30,421	$ 209,911
Total revenues	304	106,202	30,421	209,911
EXPENSES (1)
Cost of Property Repairs and Maintenance	33	19,616	7,923	38,702
Real Estate Taxes and Insurance	60	12,477	2,932	24,624
Property management	0	3	2	6
General and administrative	14	24	15	25
Depreciation	0	26,238	0	52,432
Total expenses	107	58,358	10,872	115,789
Operating income	197	47,844	19,549	94,122
Interest and other income	9	0	11	0
INTEREST (2)
Expense incurred, net	(46)	(178)	(374)	(342)
Amortization of deferred financing costs	0	(25)	(707)	(49)
Income and other tax (expense) benefit	(1)	(1)	(1)	(1)
Net gain on sales of real estate properties	(21)	0	3,161,200	0
Net Income (Loss) Allocated to General Partners	138	47,640	3,179,678	93,730
Net income attributable to Noncontrolling Interests	(6)	(1,820)	(122,138)	(3,574)
Net income attributable to controlling interests	$ 132	$ 45,820	$ 3,057,540	$ 90,156

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUES
Discontinued Operations - Rental income		$ 99	$ 177	$ 217	$ 338
Discontinued Operations - Total revenue		99	177	217	338
EXPENSES (1)
Discontinued Operations - Property and maintenance	[1]	(2)	0	(5)	(67)
Discontinued Operations - Real estate taxes and insurance	[1]	1	1	2	53
Discontinued Operations - General and administrative	[1]	62	65	66	71
Discontinued Operations - Total expenses	[1]	61	66	63	57
Discontinued operating income		38	111	154	281
Disposal Group, Including Discontinued Operation, Other Income		0	3	0	3
Disposal Group, Including Discontinued Operation, Other Expense		0	0	(280)	0
Discontinued Operations - Income and other tax (expense) benefit		(3)	0	(11)	(15)
Income Loss From Discontinued Operations		35	114	(137)	269
Discontinued Operation - Net gain on sales of discontinued operations		0	0	15	0
Discontinued operations, net		$ 35	$ 114	$ (122)	$ 269
[1]	Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.

Commitments and Contingencies (

Commitments and Contingencies (Details)	6 Months Ended
	Jun. 30, 2016USD ($)
Litigation Settlement, Amount	$ 1,500,000
Loss Contingency Accrual, Period Increase (Decrease)	(500,000)
Loss Contingency Accrual	$ 1,000,000
Projects in various stages of development	8
Units in various stages of development	2,850
Consolidated Project Under Development Commitment Fund	$ 491,500,000
Various stages of development with estimated completion dates ranging through December 31, 2018	Dec. 31, 2018
Partially Owned Properties – Unconsolidated
Number Of Unconsolidated Projects	2

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Reportable Segments - Reconciliation of NOI
Rental income	$ 594,939	$ 676,508	$ 1,211,104	$ 1,341,114
Property and maintenance expense	(96,307)	(118,005)	(205,472)	(242,565)
Real estate taxes and insurance expense	(77,415)	(83,119)	(157,611)	(169,551)
Total operating expenses	(173,722)	(201,124)	(363,083)	(412,116)
Net operating income	421,217	475,384	848,021	928,998
Rental income:
Rental Income - Same Store	556,022	533,482	1,099,117	1,053,117
Rental Income - Non-same store/other	38,917	143,026	111,987	287,997
Rental Income	594,939	676,508	1,211,104	1,341,114
Operating expenses:
Operating Expenses - Same Store	159,569	156,886	320,884	318,166
Operating Expenses - Non-same store/other	14,153	44,238	42,199	93,950
Operating expenses	173,722	201,124	363,083	412,116
NOI:
Net operating income - Same Store	396,453	376,596	778,233	734,951
Net operating income - Non-same store/other	24,764	98,788	69,788	194,047
Net operating income	421,217	475,384	848,021	928,998
Total Assets	$ 21,229,922		21,229,922		$ 23,110,196
Capital Expenditures			$ 74,450
Units in same store properties	72,781		72,494
Same Store [Member]
NOI:
Total Assets	$ 16,990,824		$ 16,990,824
Capital Expenditures			64,882
Non-same store [Member]
NOI:
Total Assets	4,239,098		4,239,098
Capital Expenditures			9,568
Los Angeles [Member] | Same Store [Member]
Rental income:
Rental Income - Same Store	91,699	86,515	181,849	171,169
Operating expenses:
Operating Expenses - Same Store	26,489	25,893	52,847	52,082
NOI:
Net operating income - Same Store	65,210	60,622	129,002	119,087
Total Assets	2,550,146		2,550,146
Capital Expenditures			11,718
Los Angeles [Member] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	9,198	6,505	16,460	13,825
Operating expenses:
Operating Expenses - Non-same store/other	3,021	2,382	5,726	4,766
NOI:
Net operating income - Non-same store/other	6,177	4,123	10,734	9,059
Total Assets	455,857		455,857
Capital Expenditures			5,803
San Diego [Member] | Same Store [Member]
Rental income:
Rental Income - Same Store	21,877	20,643	43,306	40,874
Operating expenses:
Operating Expenses - Same Store	5,861	5,756	11,696	11,417
NOI:
Net operating income - Same Store	16,016	14,887	31,610	29,457
Total Assets	480,150		480,150
Capital Expenditures			2,465
Orange County [Member] | Same Store [Member]
Rental income:
Rental Income - Same Store	19,802	18,601	39,116	36,922
Operating expenses:
Operating Expenses - Same Store	4,599	4,639	9,332	9,327
NOI:
Net operating income - Same Store	15,203	13,962	29,784	27,595
Total Assets	265,300		265,300
Capital Expenditures			3,741
Orange County [Member] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	1,201	0	2,358	0
Operating expenses:
Operating Expenses - Non-same store/other	350	0	685	0
NOI:
Net operating income - Non-same store/other	851	0	1,673	0
Total Assets	76,337		76,337
Capital Expenditures			26
Southern California [Member] | Same Store [Member]
Rental income:
Rental Income - Same Store	133,378	125,759	264,271	248,965
Operating expenses:
Operating Expenses - Same Store	36,949	36,288	73,875	72,826
NOI:
Net operating income - Same Store	96,429	89,471	190,396	176,139
Total Assets	3,295,596		3,295,596
Capital Expenditures			17,924
Southern California [Member] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	10,399	6,505	18,818	13,825
Operating expenses:
Operating Expenses - Non-same store/other	3,371	2,382	6,411	4,766
NOI:
Net operating income - Non-same store/other	7,028	4,123	12,407	9,059
Total Assets	532,194		532,194
Capital Expenditures			5,829
New York [Domain] | Same Store [Member]
Rental income:
Rental Income - Same Store	114,532	111,885	227,736	222,210
Operating expenses:
Operating Expenses - Same Store	38,487	37,716	78,629	77,223
NOI:
Net operating income - Same Store	76,045	74,169	149,107	144,987
Total Assets	4,314,790		4,314,790
Capital Expenditures			9,838
New York [Domain] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	8,628	1,006	15,714	1,291
Operating expenses:
Operating Expenses - Non-same store/other	3,898	1,021	7,533	1,453
NOI:
Net operating income - Non-same store/other	4,730	(15)	8,181	(162)
Total Assets	436,213		436,213
Capital Expenditures			33
Washington DC [Member] | Same Store [Member]
Rental income:
Rental Income - Same Store	106,148	104,907	210,416	208,247
Operating expenses:
Operating Expenses - Same Store	30,871	30,609	62,296	62,646
NOI:
Net operating income - Same Store	75,277	74,298	148,120	145,601
Total Assets	3,965,195		3,965,195
Capital Expenditures			13,191
Washington DC [Member] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	859	1,017	1,818	2,062
Operating expenses:
Operating Expenses - Non-same store/other	166	183	346	380
NOI:
Net operating income - Non-same store/other	693	834	1,472	1,682
Total Assets	45,869		45,869
Capital Expenditures			308
San Francisco [Member] | Same Store [Member]
Rental income:
Rental Income - Same Store	91,811	85,224	182,485	168,047
Operating expenses:
Operating Expenses - Same Store	22,230	21,390	44,428	42,909
NOI:
Net operating income - Same Store	69,581	63,834	138,057	125,138
Total Assets	2,501,535		2,501,535
Capital Expenditures			10,250
San Francisco [Member] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	8,043	524	13,328	640
Operating expenses:
Operating Expenses - Non-same store/other	2,647	394	4,710	615
NOI:
Net operating income - Non-same store/other	5,396	130	8,618	25
Total Assets	951,966		951,966
Capital Expenditures			261
Boston [Member] | Same Store [Member]
Rental income:
Rental Income - Same Store	62,272	60,467	123,890	120,294
Operating expenses:
Operating Expenses - Same Store	16,848	17,470	34,272	36,320
NOI:
Net operating income - Same Store	45,424	42,997	89,618	83,974
Total Assets	1,789,339		1,789,339
Capital Expenditures			8,285
Boston [Member] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	2,909	2,433	5,542	3,375
Operating expenses:
Operating Expenses - Non-same store/other	698	580	1,415	782
NOI:
Net operating income - Non-same store/other	2,211	1,853	4,127	2,593
Total Assets	169,544		169,544
Capital Expenditures			357
Seattle | Same Store [Member]
Rental income:
Rental Income - Same Store	40,401	38,103	75,565	71,250
Operating expenses:
Operating Expenses - Same Store	11,344	10,564	21,392	19,868
NOI:
Net operating income - Same Store	29,057	27,539	54,173	51,382
Total Assets	1,045,598		1,045,598
Capital Expenditures			4,800
Seattle | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	4,827	68	12,584	4,003
Operating expenses:
Operating Expenses - Non-same store/other	1,164	88	3,035	1,090
NOI:
Net operating income - Non-same store/other	3,663	(20)	9,549	2,913
Total Assets	331,810		331,810
Capital Expenditures			432
All Other Markets | Same Store [Member]
Rental income:
Rental Income - Same Store	7,480	7,137	14,754	14,104
Operating expenses:
Operating Expenses - Same Store	2,840	2,849	5,992	6,374
NOI:
Net operating income - Same Store	4,640	4,288	8,762	7,730
Total Assets	78,771		78,771
Capital Expenditures			594
Other [Member] | Non-same store [Member]
Rental income:
Rental Income - Non-same store/other	3,252	131,473	44,183	262,801
Operating expenses:
Operating Expenses - Non-same store/other	2,209	39,590	18,749	84,864
NOI:
Net operating income - Non-same store/other	1,043	$ 91,883	25,434	$ 177,937
Total Assets	$ 1,771,502		1,771,502
Capital Expenditures			$ 2,348

Subsequent Events_Other (Detail

Subsequent Events/Other (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 29, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)property	Jun. 30, 2015USD ($)
Other [Line Items]
Disposed Properties | property				83
Apartment Units				26,890
Sales Price				$ 6,454,858,000
Distributions from unconsolidated entities – return of capital				524,000	$ 26,147,000
Business Combination, Acquisition Related Costs				1,400,000	200,000
Noncash Project Abandonment Costs				2,563,000	1,651,000
Other Expenses				4,000,000	1,800,000
Interest and other income		$ 56,525,000	$ 6,481,000	59,583,000	6,650,000
Litigation Settlement, Amount				1,400,000	5,800,000
Real Estate [Member]
Other [Line Items]
Noncash Project Abandonment Costs				$ 2,600,000	$ 1,600,000
Subsequent Event [Member]
Other [Line Items]
Repayments Of Long-term Debt	$ 8,600,000
Rental Properties – Consolidated
Other [Line Items]
Disposed Properties | property				83
Apartment Units				26,890
Sales Price				$ 6,427,403,000
Rental Properties – Consolidated | Subsequent Event [Member]
Other [Line Items]
Disposed Properties	1
Apartment Units	44
Sales Price	$ 22,000,000
Land [Member]
Other [Line Items]
Sales Price				$ 27,455,000
Disposed Land Parcels | property				2
Land [Member] | Subsequent Event [Member]
Other [Line Items]
Sales Price	$ 30,000,000
Disposed Land Parcels	1
Partially Owned Properties – Unconsolidated | Subsequent Event [Member]
Other [Line Items]
Disposed Properties	1
Apartment Units	336
Sales Price	$ 74,500,000
Repayments Of Long-term Debt	29,100,000
Distributions from unconsolidated entities – return of capital	$ 11,900,000
Military Housing [Member]
Other [Line Items]
Apartment Units				5,161
Sales Price				$ 63,300,000
Interest and other income				52,400,000
Series P [Domain]
Other [Line Items]
Redemption of Series P Preference Units				18,400,000
Reduction In Other Liabilities				$ 18,400,000
Series P [Domain]
Other [Line Items]
Preferred Stock Preference Units Dividend Rate Percentage				3.00%
Business Acquisition, Percentage of Voting Interests Acquired		95.00%		95.00%