Investments in Real Estate Entities (Tables)

3 Months Ended

Mar. 31, 2013

Investments in Real Estate Entities

Combined summary of the financial position of the entities accounted for using the equity method

The following is a combined summary of the financial position of the entities accounted for using the equity method excluding those held in joint ventures with Equity Residential, as of the dates presented (dollars in thousands):

	3-31-13		12-31-12
	(unaudited)		(unaudited)
Assets:
Real estate, net	$	2,112,739	$	1,337,084
Other assets	779,722		73,252
Total assets	$	2,892,461	$	1,410,336
Liabilities and partners’ capital:
Mortgage notes payable and credit facility	$	1,391,811	$	943,259
Other liabilities	36,351		20,405
Partners’ capital	1,464,299		446,672
Total liabilities and partners’ capital	$	2,892,461	$	1,410,336

Combined summary of the operating results of the entities accounted for using the equity method

The following is a combined summary of the operating results of the entities accounted for using the equity method, excluding investments in joint ventures with Equity Residential, for the periods presented (dollars in thousands):

	For the three months ended
	3-31-13			3-31-12
	(unaudited)			(unaudited)
Rental and other income	$	43,827		$	42,627
Operating and other expenses	(17,705		)	(18,669		)
Gain on sale of communities	54,051			8,909
Interest expense, net	(15,269		)	(13,066		)
Depreciation expense	(13,151		)	(12,700		)
Net income (loss)	$	51,753		$	7,101