Real Estate (Tables)

12 Months Ended

Dec. 31, 2015

Schedule Of Real Estate Investments And Accumulated Depreciation [Table Text Block]

The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of December 31, 2015 and 2014 (amounts in thousands):

	2015			2014
Land	$	5,864,046		$	6,295,404
Depreciable property:
Buildings and improvements	16,336,829			17,974,337
Furniture, fixtures and equipment	1,207,098			1,365,276
In-Place lease intangibles	483,160			511,891
Projects under development:
Land	284,995			466,764
Construction-in-progress	837,381			877,155
Land held for development:
Land	120,007			145,366
Construction-in-progress	48,836			39,190
Investment in real estate	25,182,352			27,675,383
Accumulated depreciation	(4,905,406		)	(5,432,805		)
Investment in real estate, net	$	20,276,946		$	22,242,578

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of December 31, 2015 and 2014 (amounts in thousands):

Description	Balance Sheet Location	2015			2014
Assets
Ground lease intangibles – below market	Other Assets	$	178,251		$	178,251
Retail lease intangibles – above market	Other Assets	1,260			1,260
Lease intangible assets		179,511			179,511
Accumulated amortization		(13,451		)	(8,913		)
Lease intangible assets, net		$	166,060		$	170,598
Liabilities
Ground lease intangibles – above market	Other Liabilities	$	2,400		$	2,400
Retail lease intangibles – below market	Other Liabilities	5,270			5,270
Lease intangible liabilities		7,670			7,670
Accumulated amortization		(3,414		)	(2,258		)
Lease intangible liabilities, net		$	4,256		$	5,412

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The following table provides a summary of the aggregate amortization expense for above and below market ground lease intangibles and retail lease intangibles for each of the next five years (amounts in thousands):

	2016			2017			2018			2019			2020
Ground lease intangibles	$	4,321		$	4,321		$	4,321		$	4,321		$	4,321
Retail lease intangibles	(896		)	(540		)	(71		)	(71		)	(71		)
Total	$	3,425		$	3,781		$	4,250		$	4,250		$	4,250

Acquired Properties Table

During the year ended December 31, 2014, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands):

	Properties	Apartment Units	Purchase Price
Rental Properties – Consolidated (1)	6	1,353	$	469,850
Land Parcels	—	—	28,790
Total	6	1,353	$	498,640

(1) Purchase price includes an allocation of approximately $95.3 million to land and $374.6 million to depreciable property.

During the year ended December 31, 2015, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands):

	Properties	Apartment Units	Purchase Price
Rental Properties – Consolidated (1)	4	625	$	296,037
Land Parcels (2)	—	—	27,800
Total	4	625	$	323,837

(1) Purchase price includes an allocation of approximately $44.7 million to land and $251.3 million to depreciable property.

(2) The Company acquired three contiguous land parcels in San Francisco during 2015 which will be combined for future development.

Disposed Properties Table

During the year ended December 31, 2015, the Company disposed of the following to unaffiliated parties (sales price in thousands):

	Properties	Apartment Units	Sales Price
Consolidated:
Rental Properties (1)	8	1,857	$	513,312
Total	8	1,857	$	513,312

(1) Includes a 193,230 square foot medical office building adjacent to our Longfellow Place property in Boston with a sales price of approximately $123.3 million which is not included in the Company's property and apartment unit counts.

During the year ended December 31, 2014, the Company disposed of the following to unaffiliated parties (sales price in thousands):

	Properties	Apartment Units	Sales Price
Consolidated:
Rental Properties	10	3,092	$	466,968
Land Parcels (three)	—	—	62,602
Unconsolidated:
Rental Properties (1)	1	388	62,500
Total	11	3,480	$	592,070

(1) The Company owned an 85% interest in this unconsolidated rental property. Sale price listed is the gross sale price.

Schedule Of Properties And Units [Table Text Block]

The ownership breakdown includes (table does not include various uncompleted development properties):

	Properties	Apartment Units
Wholly Owned Properties	367	98,608
Master-Leased Properties – Consolidated	3	853
Partially Owned Properties – Consolidated	19	3,771
Partially Owned Properties – Unconsolidated	3	1,281
Military Housing	2	5,139
	394	109,652

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the acquisition date fair values of the assets acquired and liabilities assumed, which the Company determined using Level 1, Level 2 and Level 3 inputs (amounts in thousands):

Land	$	2,239,000
Depreciable property:
Buildings and improvements	5,765,538
Furniture, fixtures and equipment	61,470
In-Place lease intangibles	304,830
Projects under development	36,583
Land held for development	244,097
Investments in unconsolidated entities	230,608
Other assets	195,260
Other liabilities	(108,997		)
Net assets acquired	$	8,968,389

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The following table summarizes the acquisition date fair values of the above and below market ground and retail lease intangibles, which we determined using Level 2 and Level 3 inputs (amounts in thousands):

Description	Balance Sheet Location	Fair Value
Ground lease intangibles – below market	Other Assets	$	178,251
Retail lease intangibles – above market	Other Assets	1,260
Ground lease intangibles – above market	Other Liabilities	2,400
Retail lease intangibles – below market	Other Liabilities	8,040

Business Acquisition, Pro Forma Information [Table Text Block]

The following table illustrates the effect on net income, earnings per share – basic and earnings per share – diluted as if the Company had consummated the Archstone Acquisition as of January 1, 2012 (amounts in thousands, except per share amounts):

	Year Ended December 31, 2013
Total revenues	$	2,485,438
Income from continuing operations	203,286
Discontinued operations, net	2,074,072
Net income	2,277,358
Net income available to Common Shares	2,183,756
Earnings per share - basic:
Net income available to Common Shares	$	6.07
Weighted average Common Shares outstanding (1)	359,688
Earnings per share - diluted:
Net income available to Common Shares	$	6.05
Weighted average Common Shares outstanding (1)	375,861

(1) Includes an adjustment for Common Shares issued to the public in November/December 2012 and to an affiliate of Lehman Brothers Holdings Inc. in February 2013 as partial consideration for the Archstone Acquisition.

ERPOP [Member]

Business Acquisition, Pro Forma Information [Table Text Block]

The following table illustrates the effect on net income, earnings per Unit – basic and earnings per Unit – diluted as if the Operating Partnership had consummated the Archstone Acquisition as of January 1, 2012 (amounts in thousands, except per Unit amounts):

	Year Ended December 31, 2013
Total revenues	$	2,485,438
Income from continuing operations	203,286
Discontinued operations, net	2,074,072
Net income	2,277,358
Net income available to Units	2,273,798
Earnings per Unit - basic:
Net income available to Units	$	6.07
Weighted average Units outstanding (1)	373,421
Earnings per Unit - diluted:
Net income available to Units	$	6.05
Weighted average Units outstanding (1)	375,861

(1) Includes an adjustment for Common Shares issued to the public in November/December 2012 and to an affiliate of Lehman Brothers Holdings Inc. in February 2013 as partial consideration for the Archstone Acquisition. Concurrent with these transactions, ERPOP issued the same number of OP Units to EQR.

Starwood Portfolio [Member]

Schedule Of Real Estate Investments And Accumulated Depreciation [Table Text Block]

In accordance with this classification, the Company ceased depreciation on all assets in the Starwood portfolio as of November 1, 2015 and the following assets are classified as held for sale in the accompanying consolidated balance sheets at December 31, 2015 (amounts in thousands):

	2015
Land	$	602,737
Depreciable property:
Buildings and improvements	2,386,489
Furniture, fixtures and equipment	335,565
In-Place lease intangibles	35,554
Real estate held for sale before accumulated depreciation	3,360,345
Accumulated depreciation	(1,179,210		)
Real estate held for sale	$	2,181,135

Schedule Of Properties And Units [Table Text Block]

The following table provides the operating segments/locations of the properties and apartment units sold in the Starwood Transaction, which represents substantially all of the assets in the Company's non-core South Florida and Denver markets and certain non-core assets in the Washington D.C., Seattle and other (Inland Empire, CA) markets. The sale of these properties represents the continuation of the Company's long-term strategy of investing in high barrier to entry/core urban markets. See Notes 11 and 18 for further discussion.

Markets/Metro Areas	Properties	Apartment Units
Non-core – South Florida	33	10,742
Non-core – Denver	18	6,635
Washington D.C.	10	3,020
Seattle	8	1,721
Non-core – other (Inland Empire, CA)	3	1,144
Total	72	23,262