Notes

EQR does not have any indebtedness as all debt is incurred by the Operating Partnership; however, EQR does guarantee the Operating Partnership’s $500.0 million unsecured senior term loan.

As of June 30, 2011, the Company had outstanding unsecured notes of approximately $5.1 billion.

During the six months ended June 30, 2011, the Company:

	•		Repaid $93.1 million of 6.95% unsecured notes at maturity and

	•		Exercised the second of its two one-year extension options for its $500.0 million term loan facility and as a result, the maturity date is now October 5, 2012.

As of June 30, 2011, scheduled maturities for the Company’s outstanding notes were at various dates through 2026. At June 30, 2011, the interest rate range on the Company’s notes was 0.69% to 7.57%. During the six months ended June 30, 2011, the weighted average interest rate on the Company’s notes was 5.17%.