CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES
Rental income	$ 676,508	$ 649,766	$ 1,341,114	$ 1,280,491
Fee and asset management	2,604	2,802	4,369	5,519
Total revenues	679,112	652,568	1,345,483	1,286,010
EXPENSES
Property and maintenance	118,005	115,382	242,565	240,948
Real estate taxes and insurance	83,119	83,055	169,551	165,149
Property management	20,518	20,555	41,962	42,673
Fee and asset management	1,274	1,378	2,595	3,040
Depreciation	194,282	190,136	388,803	375,303
General and administrative	15,730	13,752	35,652	31,328
Total expenses	432,928	424,258	881,128	858,441
Operating Income	246,184	228,310	464,355	427,569
Interest and other income	6,481	2,032	6,650	2,637
Other expenses	(1,770)	(1,539)	(1,700)	(2,203)
Interest:
Expense incurred, net	(110,795)	(115,924)	(219,417)	(228,973)
Amortization of deferred financing costs	(2,538)	(3,134)	(5,127)	(5,926)
Income before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	137,562	109,745	244,761	193,104
Income and other tax (expense) benefit	(326)	(646)	(369)	(886)
Income (loss) from investments in unconsolidated entities	12,466	(7,616)	15,429	(9,025)
Net gain on sales of real estate properties	148,802	14,903	228,753	14,903
Net (loss) gain on sales of land parcels	0	824	(1)	794
Income from continuing operations	298,504	117,210	488,573	198,890
Discontinued operations, net	114	510	269	1,562
Net income	298,618	117,720	488,842	200,452
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties	(844)	(588)	(1,487)	(1,092)
Net income attributable to controlling interests	286,420	112,690	468,942	191,825
ALLOCATION OF NET INCOME:
Premium on redemption of Preference Units	$ 0	$ 0	$ 2,789	$ 0
Earnings per Unit - basic:
Income from continuing operations available to Units	$ 0.79	$ 0.31	$ 1.28	$ 0.52
Net income available to Units	0.79	0.31	1.28	0.53
Earnings per Unit - diluted:
Income from continuing operations available to Units	0.78	0.31	1.27	0.52
Net income available to Units	$ 0.78	$ 0.31	$ 1.27	$ 0.52
OPERATING PARTNERSHIP
REVENUES
Rental income	$ 676,508	$ 649,766	$ 1,341,114	$ 1,280,491
Fee and asset management	2,604	2,802	4,369	5,519
Total revenues	679,112	652,568	1,345,483	1,286,010
EXPENSES
Property and maintenance	118,005	115,382	242,565	240,948
Real estate taxes and insurance	83,119	83,055	169,551	165,149
Property management	20,518	20,555	41,962	42,673
Fee and asset management	1,274	1,378	2,595	3,040
Depreciation	194,282	190,136	388,803	375,303
General and administrative	15,730	13,752	35,652	31,328
Total expenses	432,928	424,258	881,128	858,441
Operating Income	246,184	228,310	464,355	427,569
Interest and other income	6,481	2,032	6,650	2,637
Other expenses	(1,770)	(1,539)	(1,700)	(2,203)
Interest:
Expense incurred, net	(110,795)	(115,924)	(219,417)	(228,973)
Amortization of deferred financing costs	(2,538)	(3,134)	(5,127)	(5,926)
Income before income and other taxes, income (loss) from investments in unconsolidated entities, net gain (loss) on sales of real estate properties and land parcels and discontinued operations	137,562	109,745	244,761	193,104
Income and other tax (expense) benefit	(326)	(646)	(369)	(886)
Income (loss) from investments in unconsolidated entities	12,466	(7,616)	15,429	(9,025)
Net gain on sales of real estate properties	148,802	14,903	228,753	14,903
Net (loss) gain on sales of land parcels	0	824	(1)	794
Income from continuing operations	298,504	117,210	488,573	198,890
Discontinued operations, net	114	510	269	1,562
Net income	298,618	117,720	488,842	200,452
Net (income) attributable to Noncontrolling Interests – Partially Owned Properties	(844)	(588)	(1,487)	(1,092)
Net income attributable to controlling interests	297,774	117,132	487,355	199,360
ALLOCATION OF NET INCOME:
Preference Units	833	1,036	1,724	2,072
Premium on redemption of Preference Units	0	0	2,789	0
General Partner	285,587	111,654	464,429	189,753
Limited Partners	11,354	4,442	18,413	7,535
Net income available to Units	$ 296,941	$ 116,096	$ 482,842	$ 197,288
Earnings per Unit - basic:
Income from continuing operations available to Units	$ 0.79	$ 0.31	$ 1.28	$ 0.52
Net income available to Units	$ 0.79	$ 0.31	$ 1.28	$ 0.53
Weighted average Units outstanding	377,063	374,551	376,880	374,377
Earnings per Unit - diluted:
Income from continuing operations available to Units	$ 0.78	$ 0.31	$ 1.27	$ 0.52
Net income available to Units	$ 0.78	$ 0.31	$ 1.27	$ 0.52
Weighted average Units outstanding	380,491	377,118	380,346	376,780
Distributions declared per Unit outstanding	$ 0.5525	$ 0.50	$ 1.105	$ 1.00