SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2014

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
					Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Units	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Encumbered communities
The Elliot at Mukilteo	301	Mukilteo, WA	10,750	2,498	10,595	14,371	2,824	24,640	27,464	(12,928	)	1981	Jan-97	3-30
Avondale at Warner Center	446	Woodland Hills, CA	45,349	10,536	24,522	15,722	10,601	40,179	50,780	(23,899	)	1970	Jan-97	3-30
Bridgeport	184	Newark, CA	21,003	1,608	7,582	7,465	1,525	15,130	16,655	(11,592	)	1987	Jul-87	3-30
Barkley, The (2)	161	Anaheim, CA	16,269	—	8,520	5,195	2,353	11,362	13,715	(5,536	)	1984	Apr-00	3-30
Bel Air	462	San Ramon, CA	53,835	12,105	18,252	28,826	12,682	46,501	59,183	(23,898	)	1988	Jan-97	3-30
Belmont Station	275	Los Angeles, CA	30,045	8,100	66,666	3,968	8,267	70,467	78,734	(18,446	)	2008	Dec-08	3-30
Bella Villagio	231	San Jose, CA	35,870	17,247	40,343	1,983	17,247	42,326	59,573	(6,432	)	2004	Sep-10	3-30
Brookside Oaks	170	Sunnyvale, CA	19,312	7,301	16,310	22,116	10,328	35,399	45,727	(14,425	)	1973	Jun-00	3-30
Camino Ruiz Square	160	Camarillo, CA	21,110	6,871	26,119	1,317	6,931	27,376	34,307	(7,498	)	1990	Dec-06	3-30
Canyon Oaks	250	San Ramon, CA	28,101	19,088	44,473	2,244	19,088	46,717	65,805	(12,259	)	2005	May-07	3-30
Carlyle, The	132	San Jose, CA	22,419	3,954	15,277	10,147	5,801	23,577	29,378	(11,057	)	2000	Apr-00	3-30
City View	572	Hayward, CA	74,903	9,883	37,670	21,926	10,350	59,129	69,479	(35,386	)	1975	Mar-98	3-30
Courtyard off Main	109	Bellevue, WA	15,757	7,465	21,405	2,766	7,465	24,171	31,636	(3,701	)	2000	Oct-10	3-30
Domaine	92	Seattle, WA	15,793	9,059	27,177	473	9,059	27,650	36,709	(2,151	)	2009	Sep-12	3-30
Elevation	157	Redmond, WA	11,308	4,758	14,285	5,667	4,757	19,953	24,710	(4,178	)	1986	Jun-10	3-30
Esplanade	278	San Jose, CA	42,950	18,170	40,086	8,307	18,429	48,134	66,563	(17,173	)	2002	Apr-11	3-30
Fairhaven	164	Santa Ana, CA	20,721	2,626	10,485	5,761	2,957	15,915	18,872	(6,850	)	1970	Nov-01	3-30
Fairwood Pond	194	Renton, WA	12,725	5,296	15,564	2,232	5,297	17,795	23,092	(6,688	)	1997	Oct-04	3-30
Fountain Park	705	Playa Vista, CA	83,179	25,073	94,980	25,540	25,203	120,390	145,593	(48,601	)	2002	Feb-04	3-30
Harvest Park	104	Santa Rosa, CA	10,241	6,700	15,479	1,099	6,690	16,588	23,278	(4,693	)	2004	Mar-07	3-30
Hampton Place /Hampton Court	215	Glendale, CA	20,616	6,695	16,753	8,310	6,733	25,025	31,758	(11,951	)	1970	Jun-99	3-30
Hidden Valley	324	Simi Valley, CA	30,053	14,174	34,065	2,063	9,674	40,628	50,302	(14,322	)	2004	Dec-04	3-30
Highridge	255	Rancho Palos Verdes, CA	44,807	5,419	18,347	28,623	6,073	46,316	52,389	(23,162	)	1972	May-97	3-30
Highlands at Wynhaven	333	Issaquah, WA	32,212	16,271	48,932	6,609	16,271	55,541	71,812	(12,981	)	2000	Aug-08	3-30
Hillcrest Park	608	Newbury Park, CA	67,064	15,318	40,601	16,690	15,755	56,854	72,609	(29,850	)	1973	Mar-98	3-30
Huntington Breakers	342	Huntington Beach, CA	37,446	9,306	22,720	13,803	9,315	36,514	45,829	(16,859	)	1984	Oct-97	3-30
Inglenook Court	224	Bothell, WA	8,300	3,467	7,881	6,418	3,474	14,292	17,766	(9,683	)	1985	Oct-94	3-30
Magnolia Square/Magnolia Lane (3)	188	Sunnyvale, CA	17,701	8,190	24,736	14,056	8,191	38,791	46,982	(10,633	)	1969	Sep-07	3-30
Mirabella	188	Marina Del Rey, CA	44,556	6,180	26,673	13,877	6,270	40,460	46,730	(17,813	)	2000	May-00	3-30
Mill Creek at Windermere	400	San Ramon, CA	48,348	29,551	69,032	2,974	29,551	72,006	101,557	(17,916	)	2005	Sep-07	3-30

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
					Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Units	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Montclaire, The	390	Sunnyvale, CA	45,833	4,842	19,776	20,330	4,997	39,951	44,948	(31,729	)	1973	Dec-88	3-30
Montebello	248	Kirkland, WA	28,423	13,857	41,575	3,500	13,858	45,074	58,932	(4,057	)	1996	Jul-12	3-30
Montejo	124	Garden Grove, CA	15,728	1,925	7,685	2,509	2,194	9,925	12,119	(4,566	)	1974	Nov-01	3-30
Park Hill at Issaquah	245	Issaquah, WA	28,426	7,284	21,937	3,733	7,284	25,670	32,954	(9,049	)	1999	Feb-99	3-30
Palisades, The	192	Bellevue, WA	20,573	1,560	6,242	11,006	1,565	17,243	18,808	(12,559	)	1977	May-90	3-30
Pathways	296	Long Beach, CA	37,046	4,083	16,757	18,993	6,239	33,594	39,833	(24,284	)	1975	Feb-91	3-30
Stevenson Place	200	Fremont, CA	21,394	996	5,582	7,314	1,001	12,891	13,892	(9,713	)	1971	Apr-83	3-30
Stonehedge Village	196	Bothell, WA	12,109	3,167	12,603	5,064	3,201	17,633	20,834	(10,210	)	1986	Oct-97	3-30
Summerhill Park	100	Sunnyvale, CA	13,326	2,654	4,918	2,326	2,656	7,242	9,898	(5,133	)	1988	Sep-88	3-30
The Bernard	63	Seattle, WA	9,479	3,699	11,345	171	3,689	11,526	15,215	(1,291	)	2008	Sep-11	3-30
The Huntington	276	Huntington Beach, CA	32,096	10,374	41,495	2,594	10,374	44,089	54,463	(3,980	)	1975	Jun-12	3-30
Tierra Vista	404	Oxnard, CA	55,212	13,652	53,336	3,863	13,661	57,190	70,851	(20,787	)	2001	Jan-01	3-30
Valley Park	160	Fountain Valley, CA	26,479	3,361	13,420	3,516	3,761	16,536	20,297	(7,460	)	1969	Nov-01	3-30
Villa Angelina	256	Placentia, CA	32,674	4,498	17,962	5,988	4,962	23,486	28,448	(9,902	)	1970	Nov-01	3-30
Wandering Creek	156	Kent, WA	5,300	1,285	4,980	3,695	1,296	8,664	9,960	(5,853	)	1986	Nov-95	3-30
Waterford, The	238	San Jose, CA	31,275	11,808	24,500	12,916	15,165	34,059	49,224	(16,320	)	2000	Jun-00	3-30
Wilshire Promenade	149	Fullerton, CA	17,657	3,118	7,385	7,493	3,797	14,199	17,996	(7,518	)	1992	Jan-97	3-30
Ellington at Bellevue	220	Bellevue, WA	23,279	15,066	45,249	98	15,066	45,347	60,413	(556	)	1994	Jul-14	3-30
Piedmont	396	Bellevue, WA	48,180	19,848	59,606	1,557	19,848	61,163	81,011	(1,288	)	1969	May-14	3-30
The Avery	121	Los Angeles, CA	10,000	6,964	29,922	—	6,964	29,922	36,886	(787	)	2014	Mar-14	3-30
BRE acquired properties	2,899	Southern California	424,041	163,608	659,448	3,344	163,608	662,792	826,400	(18,178	)	1987 - 2008	Apr-14	3-30
BRE acquired properties	1,074	Northern California	219,244	170,747	363,720	1,383	170,747	365,103	535,850	(10,149	)	1970 - 2010	Apr-14	3-30
BRE acquired properties	1,111	Seattle Metro	145,427	64,301	265,474	1,703	64,301	267,177	331,478	(7,304	)	1992 - 2009	Apr-14	3-30
			2,245,944	825,606	2,600,447	423,644	839,395	3,010,302	3,849,697	(665,234	)
Unencumbered Communities
Apex	366	Milpitas, CA		44,240	103,251	89	44,240	103,340	147,580	(1,249	)	2014	Aug-14	3-30
Collins on Pine	76	Seattle, WA		7,276	22,226	7	7,276	22,233	29,509	(464	)	2013	May-14	3-30
Paragon	301	Fremont, CA		32,230	77,320	40	32,230	77,360	109,590	(1,183	)	2013	Jul-14	3-30
Allegro	97	Valley Village, CA		5,869	23,977	1,385	5,869	25,362	31,231	(5,293	)	2010	Oct-10	3-30
Alpine Village	301	Alpine, CA		4,967	19,728	5,362	4,982	25,075	30,057	(10,302	)	1971	Dec-02	3-30
Anavia	250	Anaheim, CA		15,925	63,712	5,968	15,925	69,680	85,605	(9,491	)	2009	Dec-10	3-30

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
					Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Units	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Annaliese	56	Seattle, WA		4,727	14,229	153	4,726	14,383	19,109	(949	)	2009	Jan-13	3-30
Ascent	90	Kirkland, WA		3,924	11,862	1,538	3,924	13,400	17,324	(1,143	)	1988	Oct-12	3-30
Axis 2300	115	Irvine, CA		5,405	33,585	965	5,405	34,550	39,955	(7,071	)	2010	Aug-10	3-30
Bellerive	63	Los Angeles, CA		5,401	21,803	629	5,401	22,432	27,833	(3,412	)	2011	Aug-11	3-30
Belmont Terrace	71	Belmont, CA		4,446	10,290	3,100	4,473	13,363	17,836	(4,706	)	1974	Oct-06	3-30
Bennett Lofts	165	San Francisco, CA		21,771	50,800	24,463	28,371	68,663	97,034	(4,919	)	2004	Dec-12	3-30
Bonita Cedars	120	Bonita, CA		2,496	9,913	1,985	2,503	11,891	14,394	(5,084	)	1983	Dec-02	3-30
Boulevard	172	Fremont, CA		3,520	8,182	10,690	3,580	18,812	22,392	(12,518	)	1978	Jan-96	3-30
Bridle Trails	108	Kirkland, WA		1,500	5,930	5,474	1,531	11,373	12,904	(6,483	)	1986	Oct-97	3-30
Brighton Ridge	264	Renton, WA		2,623	10,800	4,070	2,656	14,837	17,493	(8,809	)	1986	Dec-96	3-30
Bristol Commons	188	Sunnyvale, CA		5,278	11,853	4,993	5,293	16,831	22,124	(8,832	)	1989	Jan-97	3-30
416 on Broadway	115	Glendale, CA		8,557	34,235	1,543	8,557	35,778	44,335	(5,115	)	2009	Dec-10	3-30
Bunker Hill	456	Los Angeles, CA		11,498	27,871	21,173	11,639	48,903	60,542	(19,993	)	1968	Mar-98	3-30
Cairns, The	100	Seattle, WA		6,937	20,679	967	6,939	21,644	28,583	(5,498	)	2006	Jun-07	3-30
Camarillo Oaks	564	Camarillo, CA		10,953	25,254	3,984	11,075	29,116	40,191	(17,860	)	1985	Jul-96	3-30
Canyon Pointe	250	Bothell, WA		4,692	18,288	5,099	4,693	23,386	28,079	(9,143	)	1990	Oct-03	3-30
Capri at Sunny Hills	100	Fullerton, CA		3,337	13,320	8,060	4,048	20,669	24,717	(9,439	)	1961	Sep-01	3-30
Castle Creek	216	Newcastle, WA		4,149	16,028	2,412	4,833	17,756	22,589	(10,781	)	1997	Dec-97	3-30
CBC Apartments & The Sweeps	239	Goleta, CA		11,841	45,320	4,882	11,906	50,137	62,043	(17,174	)	1962	Jan-06	3-30
CentrePointe	224	San Diego, CA		3,405	7,743	18,330	3,442	26,036	29,478	(9,454	)	1974	Jun-97	3-30
Cedar Terrace	180	Bellevue, WA		5,543	16,442	4,297	5,652	20,630	26,282	(7,810	)	1984	Jan-05	3-30
Chestnut Street	96	Santa Cruz, CA		6,582	15,689	1,083	6,582	16,772	23,354	(3,894	)	2002	Jul-08	3-30
Commons, The	264	Campbell, CA		12,555	29,307	4,484	12,556	33,790	46,346	(5,920	)	1973	Jul-10	3-30
Corbella at Juanita Bay	169	Kirkland, WA		5,801	17,415	2,008	5,801	19,423	25,224	(2,819	)	1978	Nov-10	3-30
Country Villas	180	Oceanside, CA		4,174	16,583	2,954	4,187	19,524	23,711	(8,457	)	1976	Dec-02	3-30
Delano/Bon Terra	126	Redmond, WA		7,470	22,511	911	7,470	23,422	30,892	(2,419	)	2005	Dec-11	3-30
Devonshire	276	Hemet, CA		3,470	13,786	2,748	3,482	16,522	20,004	(7,166	)	1988	Dec-02	3-30
Domain	379	San Diego, CA		23,848	95,394	390	23,848	95,784	119,632	(3,616	)	2013	Nov-13	3-30
Emerald Ridge	180	Bellevue, WA		3,449	7,801	3,220	3,449	11,021	14,470	(7,768	)	1987	Nov-94	3-30
Essex Skyline at MacArthur Place	349	Santa Ana, CA		21,537	146,099	1,846	21,537	147,945	169,482	(13,566	)	2008	Apr-12	3-30
Evergreen Heights	200	Kirkland, WA		3,566	13,395	4,426	3,649	17,738	21,387	(10,019	)	1990	Jun-97	3-30

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
					Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Units	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Fairways (4)	74	Newport Beach, CA		—	7,850	6,107	9	13,948	13,957	(6,203	)	1972	Jun-99	3-30
Foothill Commons	388	Bellevue, WA		2,435	9,821	35,126	2,440	44,942	47,382	(26,268	)	1978	Mar-90	3-30
Foothill Gardens/Twin Creeks	176	San Ramon, CA		5,875	13,992	6,870	5,964	20,773	26,737	(11,064	)	1985	Feb-97	3-30
Forest View	192	Renton, WA		3,731	14,530	1,530	3,731	16,060	19,791	(6,358	)	1998	Oct-03	3-30
Fountain Court	320	Seattle, WA		6,702	27,306	9,252	6,585	36,675	43,260	(16,960	)	2000	Mar-00	3-30
Fourth & U	171	Berkeley, CA		8,879	52,351	2,336	8,879	54,687	63,566	(9,859	)	2010	Apr-10	3-30
Fox Plaza	443	San Francisco, CA		39,731	92,706	5,046	39,731	97,752	137,483	(6,255	)	1968	Feb-13	3-30
Hillsborough Park	235	La Habra, CA		6,291	15,455	1,785	6,272	17,259	23,531	(8,882	)	1999	Sep-99	3-30
Hillsdale Garden	697	San Mateo, CA		22,000	94,681	19,608	22,000	114,289	136,289	(33,598	)	1948	Sep-06	3-30
Hope Ranch Collection	108	Santa Barbara, CA		4,078	16,877	2,461	4,208	19,208	23,416	(4,854	)	1965	Mar-07	3-30
Joule	295	Seattle, WA		14,558	69,417	3,366	14,558	72,783	87,341	(13,492	)	2010	Mar-10	3-30
1000 Kiely	121	Santa Clara, CA		9,359	21,845	5,773	9,359	27,618	36,977	(4,107	)	1971	Mar-11	3-30
Kings Road	196	Los Angeles, CA		4,023	9,527	9,926	4,031	19,445	23,476	(9,944	)	1979	Jun-97	3-30
Laurels at Mill Creek	164	Mill Creek, WA		1,559	6,430	5,237	1,595	11,631	13,226	(7,021	)	1981	Dec-96	3-30
Le Parc Luxury Apartments	140	Santa Clara, CA		3,090	7,421	10,906	3,092	18,325	21,417	(11,312	)	1975	Feb-94	3-30
Lofts at Pinehurst, The	118	Ventura, CA		1,570	3,912	4,463	1,618	8,327	9,945	(4,195	)	1971	Jun-97	3-30
Marbrisa	202	Long Beach, CA		4,700	18,605	5,099	4,760	23,644	28,404	(9,508	)	1987	Sep-02	3-30
Marina City Club (5)	101	Marina Del Rey, CA		—	28,167	22,885	—	51,052	51,052	(14,347	)	1971	Jan-04	3-30
Marina Cove (6)	292	Santa Clara, CA		5,320	16,431	11,125	5,324	27,552	32,876	(16,710	)	1974	Jun-94	3-30
Mariners Place	105	Oxnard, CA		1,555	6,103	2,079	1,562	8,175	9,737	(4,213	)	1987	May-00	3-30
Meadowood	320	Simi Valley, CA		7,852	18,592	6,654	7,898	25,200	33,098	(14,710	)	1986	Nov-96	3-30
Mesa Village	133	Clairemont, CA		1,888	7,498	1,177	1,894	8,669	10,563	(3,613	)	1963	Dec-02	3-30
Mira Monte	355	Mira Mesa, CA		7,165	28,459	8,766	7,186	37,204	44,390	(17,380	)	1982	Dec-02	3-30
Miracle Mile/Marbella	236	Los Angeles, CA		7,791	23,075	13,028	7,886	36,008	43,894	(19,131	)	1988	Aug-97	3-30
Mission Hills	282	Oceanside, CA		10,099	38,778	4,446	10,167	43,156	53,323	(15,073	)	1984	Jul-05	3-30
Monterra del Mar/Rey/Sol	292	Pasadena, CA		2,202	4,794	37,612	8,385	36,223	44,608	(14,718	)	1972	Apr-99	3-30
Monterey Villas	122	Oxnard, CA		2,349	5,579	5,669	2,424	11,173	13,597	(5,739	)	1974	Jul-97	3-30
Muse	152	North Hollywood, CA		7,822	33,436	1,748	7,823	35,183	43,006	(6,717	)	2011	Feb-11	3-30
Park Catalina	90	Los Angeles, CA		4,710	18,839	1,781	4,710	20,620	25,330	(1,823	)	2002	Jun-12	3-30
Park West	126	San Francisco, CA		9,424	21,988	4,701	9,424	26,689	36,113	(2,120	)	1958	Sep-12	3-30
Pinehurst (7)	28	Ventura, CA		355	1,356	481	6	2,186	2,192	(943	)	1973	Dec-04	3-30
Pointe at Cupertino, The	116	Cupertino, CA		4,505	17,605	11,290	4,505	28,895	33,400	(10,003	)	1963	Aug-98	3-30

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
					Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Units	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Reed Square	100	Sunnyvale, CA		6,873	16,037	7,708	6,873	23,745	30,618	(2,853	)	1970	Jan-12	3-30
Regency at Encino	75	Encino, CA		3,184	12,737	2,202	3,184	14,939	18,123	(3,151	)	1989	Dec-09	3-30
Salmon Run at Perry Creek	132	Bothell, WA		3,717	11,483	1,430	3,801	12,829	16,630	(6,057	)	2000	Oct-00	3-30
101 San Fernando	323	San Jose, CA		4,173	58,961	6,876	4,173	65,837	70,010	(10,762	)	2001	Jul-10	3-30
Sammamish View	153	Bellevue, WA		3,324	7,501	6,035	3,331	13,529	16,860	(9,553	)	1986	Nov-94	3-30
San Marcos	432	Richmond, CA		15,563	36,204	26,908	22,866	55,809	78,675	(21,628	)	2003	Nov-03	3-30
Santee Court/Santee Village	238	Los Angeles, CA		9,581	40,317	2,726	9,582	43,042	52,624	(6,655	)	2004	Oct-10	3-30
Shadow Point	172	Spring Valley, CA		2,812	11,170	1,950	2,820	13,112	15,932	(5,659	)	1983	Dec-02	3-30
Slater 116	108	Kirkland, WA		7,379	22,138	322	7,379	22,460	29,839	(994	)	2013	Sep-13	3-30
Summit Park	300	San Diego, CA		5,959	23,670	4,392	5,977	28,044	34,021	(11,974	)	1972	Dec-02	3-30
The Grand	243	Oakland, CA		4,531	89,208	4,426	4,531	93,634	98,165	(21,286	)	2009	Jan-09	3-30
Trabucco Villas	132	Lake Forest, CA		3,638	8,640	2,451	3,890	10,839	14,729	(6,013	)	1985	Oct-97	3-30
Tuscana	30	Tracy, CA		2,828	6,599	165	2,870	6,722	9,592	(1,708	)	2007	Feb-07	3-30
Via	284	Sunnyvale, CA		22,000	82,270	540	22,016	82,794	104,810	(11,895	)	2011	Jul-11	3-30
Vista Belvedere	76	Tiburon, CA		5,573	11,901	5,861	5,573	17,762	23,335	(6,804	)	1963	Aug-04	3-30
Vox	58	Seattle, WA		5,545	16,635	67	5,545	16,702	22,247	(674	)	2013	Oct-13	3-30
Walnut Heights	163	Walnut, CA		4,858	19,168	3,645	4,887	22,784	27,671	(8,553	)	1964	Oct-03	3-30
Wharfside Pointe	142	Seattle, WA		2,245	7,020	9,697	2,258	16,704	18,962	(8,780	)	1990	Jun-94	3-30
Willow Lake	508	San Jose, CA		43,194	101,030	5,312	43,194	106,342	149,536	(8,351	)	1989	Oct-12	3-30
Windsor Ridge	216	Sunnyvale, CA		4,017	10,315	14,104	4,021	24,415	28,436	(13,679	)	1989	Mar-89	3-30
Woodland Commons	302	Bellevue, WA		2,040	8,727	19,311	2,044	28,034	30,078	(12,937	)	1978	Mar-90	3-30
Woodside Village	145	Ventura, CA		5,331	21,036	3,384	5,341	24,410	29,751	(8,669	)	1987	Dec-04	3-30
BRE acquired properties	5,438	Southern California		368,894	1,394,794	12,180	368,894	1,406,974	1,775,868	(39,591	)	1964 - 2014	Apr-14	5-30
BRE acquired properties	3,265	Northern California		375,703	944,881	8,147	375,703	953,028	1,328,731	(27,762	)	1992 - 2014	Apr-14	5-30
BRE acquired properties	1,710	Seattle Metro		80,464	373,710	1,958	80,464	375,668	456,132	(10,461	)	1989 - 2013	Apr-14	5-30
	46,739		—	1,540,006	5,192,199	585,858	1,562,973	5,755,090	7,318,063	(873,388	)

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
	Square				Buildings and	subsequent	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Footage	Location	Encumbrance	Land	improvements	to acquisition	improvements	improvements	Total(1)	depreciation		construction	acquired	(years)
Other real estate assets
Hollywood	34,000	Los Angeles, CA		10,200	13,800	2,402	10,200	16,202	26,402	(5,262	)	1938	Jul-06	3-30
Santa Clara Retail	138,915	Santa Clara, CA		6,472	11,704	4,586	6,472	16,290	22,762	(3,665	)	1970	Sep-11	3-30
925/935 East Meadow Drive	39,600	Palo Alto, CA		1,401	3,172	8,758	3,547	9,784	13,331	(3,481	)	1988	Nov-97	3-30
17461 Derian Ave	107,720	Irvine, CA		3,079	12,315	6,862	3,909	18,347	22,256	(11,322	)	1983	Jul-00	3-30
			—	21,152	40,991	22,608	24,128	60,623	84,751	(23,730	)
ESS Consolidated real estate under development				17,948	—	416,423	59,598	374,773	434,371	(2,454	)
Total			2,245,944	2,404,712	7,833,637	1,448,533	2,486,094	9,200,788	11,686,882	(1,564,806	)

(1) The aggregate cost for federal income tax purposes is approximately $8.2 billion (unaudited).

(2) The land is leased pursuant to a ground lease expiring 2082.

(3) The land is leased pursuant to a ground lease expiring 2070.

(4) The land is leased pursuant to a ground lease expiring 2027.

(5) The land is leased pursuant to a ground lease expiring 2067.

(6) A portion of land is leased pursuant to a ground lease expiring in 2028.

(7) The land is leased pursuant to a ground lease expiring in 2028.

A summary of activity for rental properties and accumulated depreciation is as follows:

	2014			2013			2012				2014			2013			2012
Rental properties:										Accumulated depreciation:
Balance at beginning of year	$	5,443,757		$	5,033,672		$	4,313,064		Balance at beginning of year	$	1,254,886		$	1,081,517		$	920,026
Improvements	135,812			92,016			97,947			Depreciation expense - Acquisitions	121,426			6,203			3,744
Acquisition of real estate (1)	5,685,884			344,476			619,743			Depreciation expense - Discontinued operations	—			12,290			2,108
Development of real estate	19,751			14,111			25,545			Depreciation expense - Rental properties	199,495			168,092			161,492
Disposition of real estate	(32,693		)	(40,518		)	(22,627		)	Dispositions	(11,001		)	(13,216		)	(5,853		)
Balance at the end of year	$	11,252,511		$	5,443,757		$	5,033,672		Balance at the end of year	$	1,564,806		$	1,254,886		$	1,081,517

(1) Amount for 2014 includes $5.2 billion related to BRE merger.