SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2015

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
	Apartment						Buildings and		subsequent to		Land and		Buildings and				Accumulated			Date of	Date	Lives
Property	Homes	Location	Encumbrance		Land		improvements		acquisition		improvements		improvements		Total (1)		depreciation			construction	acquired	(years)
Encumbered communities
Avondale at Warner Center	446	Woodland Hills, CA	$	44,470	$	10,536	$	24,522	$	18,315	$	10,601	$	42,772	$	53,373	$	(26,174	)	1970	Jan-97	3-30
Bel Air	462	San Ramon, CA	52,615		12,105		18,252		31,563		12,682		49,238		61,920		(26,928		)	1988	Jan-97	3-30
Belcarra	296	Bellevue, WA	54,416		21,725		92,091		253		21,725		92,344		114,069		(5,874		)	2009	Apr-14	5-30
Bella Villagio	231	San Jose, CA	34,686		17,247		40,343		2,271		17,247		42,614		59,861		(8,054		)	2004	Sep-10	3-30
BellCentre	248	Bellevue, WA	40,485		16,197		67,207		1,463		16,197		68,670		84,867		(4,461		)	2001	Apr-14	5-30
Belmont Station	275	Los Angeles, CA	29,604		8,100		66,666		5,034		8,267		71,533		79,800		(20,898		)	2009	Mar-09	3-30
Bridgeport	184	Newark, CA	20,559		1,608		7,582		8,801		1,525		16,466		17,991		(12,685		)	1987	Jul-87	3-30
Brookside Oaks	170	Sunnyvale, CA	18,897		7,301		16,310		23,258		10,328		36,541		46,869		(16,270		)	1973	Jun-00	3-30
Camino Ruiz Square	160	Camarillo, CA	21,093		6,871		26,119		1,431		6,931		27,490		34,421		(8,515		)	1990	Dec-06	3-30
Canyon Oaks	250	San Ramon, CA	27,553		19,088		44,473		2,543		19,088		47,016		66,104		(14,036		)	2005	May-07	3-30
Carmel Creek	348	San Diego, CA	65,204		26,842		107,368		2,474		26,842		109,842		136,684		(7,078		)	2000	Apr-14	5-30
City View	572	Hayward, CA	73,204		9,883		37,670		23,281		10,350		60,484		70,834		(38,459		)	1975	Mar-98	3-30
Courtyard off Main	110	Bellevue, WA	15,402		7,465		21,405		2,927		7,465		24,332		31,797		(4,663		)	2000	Oct-10	3-30
Domaine	92	Seattle, WA	15,149		9,059		27,177		710		9,059		27,887		36,946		(3,130		)	2009	Sep-12	3-30
Elevation	158	Redmond, WA	10,973		4,758		14,285		5,740		4,757		20,026		24,783		(5,319		)	1986	Jun-10	3-30
Ellington at Bellevue	220	Bellevue, WA	22,289		15,066		45,249		1,322		15,066		46,571		61,637		(2,109		)	1994	Jul-14	3-30
Fairhaven	164	Santa Ana, CA	20,230		2,626		10,485		6,040		2,957		16,194		19,151		(7,714		)	1970	Nov-01	3-30
Foster's Landing	490	Foster City, CA	100,847		61,714		144,000		5,685		61,714		149,685		211,399		(9,741		)	1987	Apr-14	5-30
Fountain at River Oaks	226	San Jose, CA	33,159		26,046		60,773		590		26,046		61,363		87,409		(3,953		)	1990	Apr-14	3-30
Fountain Park	705	Playa Vista, CA	82,366		25,073		94,980		29,371		25,203		124,221		149,424		(53,723		)	2002	Feb-04	3-30
Hampton Place/Hampton Court	215	Glendale, CA	20,213		6,695		16,753		13,193		6,733		29,908		36,641		(13,448		)	1970	Jun-99	3-30
Hidden Valley	324	Simi Valley, CA	29,262		14,174		34,065		2,620		9,674		41,185		50,859		(15,871		)	2004	Dec-04	3-30
Highlands at Wynhaven	333	Issaquah, WA	31,522		16,271		48,932		8,001		16,271		56,933		73,204		(15,525		)	2000	Aug-08	3-30
Highridge	255	Rancho Palos Verdes, CA	44,772		5,419		18,347		29,555		6,073		47,248		53,321		(26,591		)	1972	May-97	3-30
Hillcrest Park	608	Newbury Park, CA	65,566		15,318		40,601		17,368		15,755		57,532		73,287		(32,302		)	1973	Mar-98	3-30
Huntington Breakers	342	Huntington Beach, CA	36,648		9,306		22,720		17,026		9,315		39,737		49,052		(19,480		)	1984	Oct-97	3-30
Inglenook Court	224	Bothell, WA	8,174		3,467		7,881		6,686		3,474		14,560		18,034		(10,524		)	1985	Oct-94	3-30
Magnolia Square/Magnolia Lane (2)	188	Sunnyvale, CA	17,363		8,190		24,736		14,591		8,191		39,326		47,517		(13,145		)	1969	Sep-07	3-30
Mill Creek at Windermere	400	San Ramon, CA	47,344		29,551		69,032		3,447		29,551		72,479		102,030		(20,639		)	2005	Sep-07	3-30
Mirabella	188	Marina Del Rey, CA	43,518		6,180		26,673		14,103		6,270		40,686		46,956		(19,485		)	2000	May-00	3-30

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
	Apartment				Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Homes	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Montanosa	472	San Diego, CA	62,724	26,697	106,787	2,210	26,697	108,997	135,694	(7,005	)	1990	Apr-14	5-30
Montebello	248	Kirkland, WA	27,353	13,857	41,575	3,735	13,858	45,309	59,167	(5,903	)	1996	Jul-12	3-30
Montejo	124	Garden Grove, CA	15,232	1,925	7,685	2,822	2,194	10,238	12,432	(4,974	)	1974	Nov-01	3-30
Park Highland	250	Bellevue, WA	26,556	9,391	38,224	8,053	9,391	46,277	55,668	(2,743	)	1993	Apr-14	5-30
Park Hill at Issaquah	245	Issaquah, WA	27,802	7,284	21,937	5,979	7,284	27,916	35,200	(10,277	)	1999	Feb-99	3-30
Pathways	296	Long Beach, CA	36,325	4,083	16,757	19,274	6,239	33,875	40,114	(25,965	)	1975	Feb-91	3-30
Piedmont	396	Bellevue, WA	46,635	19,848	59,606	4,502	19,848	64,108	83,956	(3,638	)	1969	May-14	3-30
Pinnacle at Fullerton	192	Fullerton, CA	27,578	11,019	45,932	858	11,019	46,790	57,809	(2,980	)	2004	Apr-14	5-30
Pinnacle on Lake Washington	180	Renton, WA	18,724	7,760	31,041	449	7,760	31,490	39,250	(2,027	)	2001	Apr-14	5-30
Pinnacle at MacArthur Place	253	Santa Ana, CA	39,859	15,810	66,401	1,343	15,810	67,744	83,554	(4,306	)	2002	Apr-14	5-30
Pinnacle at Otay Ranch	364	San Diego, CA	40,970	17,023	68,093	766	17,023	68,859	85,882	(4,442	)	2001	Apr-14	5-30
Pinnacle at Talega	362	Irvine, CA	46,489	19,292	77,168	993	19,292	78,161	97,453	(5,014	)	2002	Apr-14	5-30
Stevenson Place	200	Fremont, CA	20,980	996	5,582	9,323	1,001	14,900	15,901	(10,244	)	1971	Apr-83	3-30
Summerhill Park	100	Sunnyvale, CA	13,032	2,654	4,918	9,769	2,656	14,685	17,341	(5,764	)	1988	Sep-88	3-30
The Audrey at Belltown	137	Seattle, WA	22,099	9,228	36,911	185	9,228	37,096	46,324	(2,373	)	1992	Apr-14	5-30
The Avery	121	Los Angeles, CA	9,985	6,964	29,922	16	6,964	29,938	36,902	(1,786	)	2014	Mar-14	3-30
The Barkley (3)	161	Anaheim, CA	15,951	—	8,520	5,561	2,353	11,728	14,081	(6,090	)	1984	Apr-00	3-30
The Bernard	63	Seattle, WA	9,141	3,699	11,345	231	3,689	11,586	15,275	(1,706	)	2008	Sep-11	3-30
The Carlyle	132	San Jose, CA	21,889	3,954	15,277	10,317	5,801	23,747	29,548	(11,968	)	2000	Apr-00	3-30
The Dylan	184	West Hollywood, CA	59,592	19,984	82,286	16	19,984	82,302	102,286	(2,637	)	2015	Mar-15	3-30
The Elliot at Mukilteo	301	Mukilteo, WA	10,628	2,498	10,595	14,940	2,824	25,209	28,033	(14,705	)	1981	Jan-97	3-30
The Huntington	276	Huntington Beach, CA	30,890	10,374	41,495	3,381	10,374	44,876	55,250	(5,765	)	1975	Jun-12	3-30
The Huxley	187	West Hollywood, CA	54,272	19,362	75,641	40	19,362	75,681	95,043	(2,486	)	2014	Mar-15	3-30
The Landing at Jack London Square	282	Oakland, CA	54,771	33,554	78,292	2,966	33,554	81,258	114,812	(5,336	)	2001	Apr-14	5-30
The Montclaire	390	Sunnyvale, CA	44,921	4,842	19,776	20,602	4,997	40,223	45,220	(33,694	)	1973	Dec-88	3-30
The Palms at Laguna Niguel	460	Laguna Niguel, CA	57,032	23,584	94,334	1,634	23,584	95,968	119,552	(6,171	)	1988	Apr-14	5-30
The Palisades	192	Bellevue, WA	20,138	1,560	6,242	11,658	1,565	17,895	19,460	(13,831	)	1977	May-90	3-30
The Waterford	238	San Jose, CA	30,689	11,808	24,500	13,536	15,165	34,679	49,844	(17,641	)	2000	Jun-00	3-30
Tierra Vista	404	Oxnard, CA	53,948	13,652	53,336	4,226	13,661	57,553	71,214	(23,033	)	2001	Jan-01	3-30
Valley Park	160	Fountain Valley, CA	25,856	3,361	13,420	5,269	3,761	18,289	22,050	(8,190	)	1969	Nov-01	3-30
Villa Angelina	256	Placentia, CA	31,908	4,498	17,962	6,539	4,962	24,037	28,999	(11,020	)	1970	Nov-01	3-30
Villa Grenada	270	Santa Clara, CA	61,057	38,299	89,365	326	38,299	89,691	127,990	(5,789	)	2010	Apr-14	5-30

									Costs
					Initial cost				capitalized		Gross amount carried at close of period
	Apartment						Buildings and		subsequent to		Land and		Buildings and				Accumulated			Date of	Date	Lives
Property	Homes	Location	Encumbrance		Land		improvements		acquisition		improvements		improvements		Total (1)		depreciation			construction	acquired	(years)
Wandering Creek	156	Kent, WA	5,209		1,285		4,980		3,790		1,296		8,759		10,055		(6,313		)	1986	Nov-95	3-30
Wilshire Promenade	149	Fullerton, CA	17,259		3,118		7,385		7,693		3,797		14,399		18,196		(8,305		)	1992	Jan-97	3-30
	17,085		$	2,215,077	$	797,144	$	2,589,987	$	482,664	$	810,649	$	3,059,146	$	3,869,795	$	(750,915	)
Unencumbered Communities
8th & Hope	290	Los Angeles, CA	$	—	$	29,279	$	169,350	$	441	$	29,279	$	169,791	$	199,070	$	(5,544	)	2014	Feb-15	3-30
Alessio	624	Los Angeles, CA	—		32,136		128,543		3,105		32,136		131,648		163,784		(8,564		)	2001	Apr-14	5-30
Allegro	97	Valley Village, CA	—		5,869		23,977		1,573		5,869		25,550		31,419		(6,656		)	2010	Oct-10	3-30
Allure at Scripps Ranch	194	San Diego, CA	—		11,923		47,690		280		11,923		47,970		59,893		(3,074		)	2002	Apr-14	5-30
Alpine Village	301	Alpine, CA	—		4,967		19,728		6,551		4,982		26,264		31,246		(11,485		)	1971	Dec-02	3-30
Anavia	250	Anaheim, CA	—		15,925		63,712		6,340		15,925		70,052		85,977		(11,955		)	2009	Dec-10	3-30
Annaliese	56	Seattle, WA	—		4,727		14,229		330		4,726		14,560		19,286		(1,452		)	2009	Jan-13	3-30
Apex	366	Milpitas, CA	—		44,240		103,251		1,104		44,240		104,355		148,595		(4,635		)	2014	Aug-14	3-30
Aqua at Marina Del Rey	500	Marina Del Ray, CA	—		58,442		175,326		4,965		58,442		180,291		238,733		(11,632		)	2001	Apr-14	5-30
Ascent	90	Kirkland, WA	—		3,924		11,862		1,669		3,924		13,531		17,455		(1,734		)	1988	Oct-12	3-30
Avant	440	Los Angeles, CA	—		32,379		137,940		261		32,379		138,201		170,580		(1,631		)	2014	Jun-15	3-30
Avenue 64	224	Emeryville, CA	—		27,235		64,403		8,486		27,235		72,889		100,124		(4,257		)	2007	Apr-14	5-30
Aviara (4)	166	Mercer Island, CA	—		—		49,813		136		—		49,949		49,949		(3,596		)	2013	Apr-14	5-30
Axis 2300	115	Irvine, CA	—		5,405		33,585		1,127		5,405		34,712		40,117		(8,800		)	2010	Aug-10	3-30
Bellerive	63	Los Angeles, CA	—		5,401		21,803		765		5,401		22,568		27,969		(4,455		)	2011	Aug-11	3-30
Belmont Terrace	71	Belmont, CA	—		4,446		10,290		4,399		4,473		14,662		19,135		(5,372		)	1974	Oct-06	3-30
Bennett Lofts	165	San Francisco, CA	—		21,771		50,800		25,515		28,371		69,715		98,086		(7,560		)	2004	Dec-12	3-30
Bernardo Crest	216	San Diego, CA	—		10,802		43,209		1,302		10,802		44,511		55,313		(2,837		)	1988	Apr-14	5-30
Bonita Cedars	120	Bonita, CA	—		2,496		9,913		2,187		2,503		12,093		14,596		(5,574		)	1983	Dec-02	3-30
Boulevard	172	Fremont, CA	—		3,520		8,182		10,888		3,580		19,010		22,590		(13,725		)	1978	Jan-96	3-30
Bridle Trails	108	Kirkland, WA	—		1,500		5,930		5,577		1,531		11,476		13,007		(7,107		)	1986	Oct-97	3-30
Brighton Ridge	264	Renton, WA	—		2,623		10,800		4,342		2,656		15,109		17,765		(9,599		)	1986	Dec-96	3-30
Bristol Commons	188	Sunnyvale, CA	—		5,278		11,853		6,978		5,293		18,816		24,109		(9,909		)	1989	Jan-97	3-30
416 on Broadway	115	Glendale, CA	—		8,557		34,235		1,905		8,557		36,140		44,697		(6,542		)	2009	Dec-10	3-30
Bunker Hill	456	Los Angeles, CA	—		11,498		27,871		43,175		11,639		70,905		82,544		(24,680		)	1968	Mar-98	3-30
Camarillo Oaks	564	Camarillo, CA	—		10,953		25,254		4,813		11,075		29,945		41,020		(19,180		)	1985	Jul-96	3-30
Cambridge Park	320	San Diego, CA	—		18,185		72,739		945		18,185		73,684		91,869		(4,770		)	1998	Apr-14	5-30

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
	Apartment				Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Homes	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Candlewood North	189	Northridge, CA	—	7,267	29,068	1,298	7,267	30,366	37,633	(1,954	)	1964	Apr-14	5-30
Canyon Pointe	250	Bothell, WA	—	4,692	18,288	6,156	4,693	24,443	29,136	(10,351	)	1990	Oct-03	3-30
Capri at Sunny Hills	100	Fullerton, CA	—	3,337	13,320	8,354	4,048	20,963	25,011	(10,424	)	1961	Sep-01	3-30
Carmel Landing	356	San Diego, CA	—	16,725	66,901	2,694	16,725	69,595	86,320	(4,478	)	1989	Apr-14	5-30
Carmel Summit	246	San Diego, CA	—	14,968	59,871	1,076	14,968	60,947	75,915	(3,887	)	1989	Apr-14	5-30
Castle Creek	216	Newcastle, WA	—	4,149	16,028	2,644	4,833	17,988	22,821	(11,526	)	1988	Dec-98	3-30
Catalina Gardens	128	Los Angeles, CA	—	6,714	26,856	503	6,714	27,359	34,073	(1,748	)	1987	Apr-14	5-30
CBC Apartments & The Sweeps	239	Goleta, CA	—	11,841	45,320	5,525	11,906	50,780	62,686	(19,106	)	1962	Jan-06	3-30
Cedar Terrace	180	Bellevue, WA	—	5,543	16,442	5,020	5,652	21,353	27,005	(8,662	)	1984	Jan-05	3-30
CentrePointe	224	San Diego, CA	—	3,405	7,743	19,503	3,442	27,209	30,651	(11,507	)	1974	Jun-97	3-30
Chestnut Street Apartments	96	Santa Cruz, CA	—	6,582	15,689	1,262	6,582	16,951	23,533	(4,527	)	2002	Jul-08	3-30
Collins on Pine	76	Seattle, WA	—	7,276	22,226	78	7,276	22,304	29,580	(1,215	)	2013	May-14	3-30
Corbella at Juanita Bay	169	Kirkland, WA	—	5,801	17,415	2,133	5,801	19,548	25,349	(3,663	)	1978	Nov-10	3-30
Cortesia at Rancho Santa Margarita	308	Rancho Santa Margarita, CA	—	13,912	55,649	719	13,912	56,368	70,280	(3,625	)	1999	Apr-14	5-30
Country Villas	180	Oceanside, CA	—	4,174	16,583	3,332	4,187	19,902	24,089	(9,274	)	1976	Dec-02	3-30
Deer Valley	171	San Rafael, CA	—	21,478	50,116	1,023	21,478	51,139	72,617	(3,329	)	1996	Apr-14	5-30
Delano/Bon Terra	126	Redmond, WA	—	7,470	22,511	978	7,470	23,489	30,959	(3,265	)	2005	Dec-11	3-30
Devonshire	276	Hemet, CA	—	3,470	13,786	3,236	3,482	17,010	20,492	(7,891	)	1988	Dec-02	3-30
Domain	379	San Diego, CA	—	23,848	95,394	799	23,848	96,193	120,041	(6,868	)	2013	Nov-13	3-30
Emerald Pointe	160	Diamond Bar, CA	—	8,458	33,832	813	8,458	34,645	43,103	(2,235	)	1989	Apr-14	5-30
Emerald Ridge	180	Bellevue, WA	—	3,449	7,801	3,500	3,449	11,301	14,750	(8,307	)	1987	Nov-94	3-30
Enso	183	San Jose, CA	—	21,397	71,135	2	21,397	71,137	92,534	(102	)	2014	Dec-15	3-30
Esplanade	278	San Jose, CA	—	18,170	40,086	9,874	18,429	49,701	68,130	(19,358	)	2002	Apr-11	3-30
Essex Skyline at MacArthur Place	349	Santa Ana, CA	—	21,537	146,099	2,862	21,537	148,961	170,498	(18,766	)	2008	Apr-12	3-30
Evergreen Heights	200	Kirkland, WA	—	3,566	13,395	4,566	3,649	17,878	21,527	(10,945	)	1990	Jun-97	3-30
Fairways (5)	74	Newport Beach, CA	—	—	7,850	6,731	9	14,572	14,581	(7,135	)	1972	Jun-99	3-30
Fairwood Pond	194	Renton, WA	—	5,296	15,564	2,490	5,297	18,053	23,350	(7,407	)	1997	Oct-04	3-30
Foothill Commons	394	Bellevue, WA	—	2,435	9,821	36,446	2,440	46,262	48,702	(30,270	)	1978	Mar-90	3-30
Foothill Gardens/Twin Creeks	176	San Ramon, CA	—	5,875	13,992	7,919	5,964	21,822	27,786	(12,293	)	1985	Feb-97	3-30
Forest View	192	Renton, WA	—	3,731	14,530	1,798	3,731	16,328	20,059	(6,991	)	1998	Oct-03	3-30
Fountain Court	320	Seattle, WA	—	6,702	27,306	10,209	6,585	37,632	44,217	(19,053	)	2000	Mar-00	3-30

						Costs
				Initial cost		capitalized		Gross amount carried at close of period
	Apartment				Buildings and	subsequent to		Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Homes	Location	Encumbrance	Land	improvements	acquisition		improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Fourth & U	171	Berkeley, CA	—	8,879	52,351	2,396		8,879	54,747	63,626	(11,966	)	2010	Apr-10	3-30
Fox Plaza	443	San Francisco, CA	—	39,731	92,706	12,668		39,731	105,374	145,105	(10,314	)	1968	Feb-13	3-30
Hillsborough Park	235	La Habra, CA	—	6,291	15,455	2,182		6,272	17,656	23,928	(9,602	)	1999	Sep-99	3-30
Hillsdale Garden	697	San Mateo, CA	—	22,000	94,681	20,672		22,000	115,353	137,353	(38,841	)	1948	Sep-06	3-30
Hope Ranch	108	Santa Barbara, CA	—	4,078	16,877	2,507		4,208	19,254	23,462	(5,586	)	1965	Mar-07	3-30
Jefferson at Hollywood	270	Los Angeles, CA	—	19,054	89,321	1,182		19,054	90,503	109,557	(5,745	)	2010	Apr-14	5-30
Joule	295	Seattle, WA	—	14,558	69,417	3,614		14,558	73,031	87,589	(16,387	)	2010	Mar-10	3-30
1000 Kiely	121	Santa Clara, CA	—	9,359	21,845	6,725		9,359	28,570	37,929	(5,605	)	1971	Mar-11	3-30
Kings Road	196	Los Angeles, CA	—	4,023	9,527	10,731		4,031	20,250	24,281	(11,236	)	1979	Jun-97	3-30
Lafayette Highlands	150	Lafayette, CA	—	17,774	41,473	410		17,774	41,883	59,657	(2,716	)	1973	Apr-14	5-30
Lakeshore Landing	308	San Mateo, CA	—	38,155	89,028	2,950		38,155	91,978	130,133	(6,171	)	1988	Apr-14	5-30
Laurels at Mill Creek	164	Mill Creek, WA	—	1,559	6,430	5,390		1,595	11,784	13,379	(7,694	)	1981	Dec-96	3-30
Lawrence Station	336	Sunnyvale, CA	—	45,532	106,735	(15	)	45,532	106,720	152,252	(8,451	)	2012	Apr-14	5-30
Le Parc Luxury Apartments	140	Santa Clara, CA	—	3,090	7,421	11,118		3,092	18,537	21,629	(12,351	)	1975	Feb-94	3-30
Marbrisa	202	Long Beach, CA	—	4,700	18,605	6,526		4,760	25,071	29,831	(10,771	)	1987	Sep-02	3-30
Marina City Club (6)	101	Marina Del Rey, CA	—	—	28,167	40,352		—	68,519	68,519	(17,674	)	1971	Jan-04	3-30
Marina Cove (7)	292	Santa Clara, CA	—	5,320	16,431	12,560		5,324	28,987	34,311	(18,435	)	1974	Jun-94	3-30
Mariner's Place	105	Oxnard, CA	—	1,555	6,103	2,150		1,562	8,246	9,808	(4,584	)	1987	May-00	3-30
MB 360 Phase I	188	San Francisco, CA	—	21,421	114,376	—		21,421	114,376	135,797	(3,749	)	2014	Apr-14	3-30
Meadowood	320	Simi Valley, CA	—	7,852	18,592	7,060		7,898	25,606	33,504	(16,003	)	1986	Nov-96	3-30
Mesa Village	133	Clairemont, CA	—	1,888	7,498	1,250		1,894	8,742	10,636	(3,967	)	1963	Dec-02	3-30
Mira Monte	355	Mira Mesa, CA	—	7,165	28,459	9,237		7,186	37,675	44,861	(19,094	)	1982	Dec-02	3-30
Miracle Mile/Marbella	236	Los Angeles, CA	—	7,791	23,075	13,484		7,886	36,464	44,350	(20,985	)	1988	Aug-97	3-30
Mission Hills	282	Oceanside, CA	—	10,099	38,778	4,996		10,167	43,706	53,873	(16,771	)	1984	Jul-05	3-30
Mission Peaks	453	Fremont, CA	—	46,499	108,498	1,181		46,499	109,679	156,178	(7,087	)	1995	Apr-14	5-30
Mission Peaks II	336	Fremont, CA	—	31,429	73,334	2,011		31,429	75,345	106,774	(4,860	)	1989	Apr-14	5-30
Monterey Villas	122	Oxnard, CA	—	2,349	5,579	5,880		2,424	11,384	13,808	(6,284	)	1974	Jul-97	3-30
Muse	152	Los Angeles, CA	—	7,822	33,436	2,168		7,823	35,603	43,426	(8,563	)	2011	Feb-11	3-30
Museum Park	117	San Jose, CA	—	13,864	32,348	476		13,864	32,824	46,688	(2,145	)	2002	Apr-14	5-30
Paragon	301	Fremont, CA	—	32,230	77,320	328		32,230	77,648	109,878	(3,782	)	2013	Jul-14	3-30
Park Catalina	90	Los Angeles, CA	—	4,710	18,839	2,281		4,710	21,120	25,830	(2,730	)	2002	Jun-12	3-30
Park Viridian	320	Anaheim, CA	—	15,894	63,574	1,116		15,894	64,690	80,584	(4,137	)	2008	Apr-14	5-30

						Costs
				Initial cost		capitalized	Gross amount carried at close of period
	Apartment				Buildings and	subsequent to	Land and	Buildings and		Accumulated		Date of	Date	Lives
Property	Homes	Location	Encumbrance	Land	improvements	acquisition	improvements	improvements	Total (1)	depreciation		construction	acquired	(years)
Park West	126	San Francisco, CA	—	9,424	21,988	9,472	9,424	31,460	40,884	(3,667	)	1958	Sep-12	3-30
Parkwood at Mill Creek	240	Mill Creek, WA	—	10,680	42,722	1,517	10,680	44,239	54,919	(2,875	)	1989	Apr-14	5-30
Pinehurst (8)	28	Ventura, CA	—	—	1,711	482	6	2,187	2,193	(1,049	)	1973	Dec-04	3-30
Pinnacle Crow Canyon	400	San Ramon, CA	—	37,579	87,685	1,717	37,579	89,402	126,981	(5,791	)	1992	Apr-14	5-30
Pinnacle Sonata	268	Bothell, WA	—	14,647	58,586	564	14,647	59,150	73,797	(3,807	)	2000	Apr-14	5-30
Radius	264	Redwood City, CA	—	11,702	152,336	28	11,702	152,364	164,066	(7,622	)	2015	Apr-14	3-30
Reed Square	100	Sunnyvale, CA	—	6,873	16,037	7,750	6,873	23,787	30,660	(4,356	)	1970	Jan-12	3-30
Regency at Encino	75	Encino, CA	—	3,184	12,737	2,519	3,184	15,256	18,440	(3,896	)	1989	Dec-09	3-30
Renaissance at Uptown Orange	460	Orange, CA	—	27,870	111,482	1,600	27,870	113,082	140,952	(7,246	)	2007	Apr-14	5-30
Reveal	438	Woodlands Hills, CA	—	25,073	121,314	232	25,073	121,546	146,619	(3,334	)	2010	Apr-15	3-30
Salmon Run at Perry Creek	132	Bothell, WA	—	3,717	11,483	1,624	3,801	13,023	16,824	(6,577	)	2000	Oct-00	3-30
Sammamish View	153	Bellevue, WA	—	3,324	7,501	6,192	3,331	13,686	17,017	(10,310	)	1986	Nov-94	3-30
101 San Fernando	323	San Jose, CA	—	4,173	58,961	8,048	4,173	67,009	71,182	(13,787	)	2001	Jul-10	3-30
San Marcos	432	Richmond, CA	—	15,563	36,204	27,780	22,866	56,681	79,547	(23,786	)	2003	Nov-03	3-30
Santee Court/Santee Village	238	Los Angeles, CA	—	9,581	40,317	4,524	9,582	44,840	54,422	(8,616	)	2004	Oct-10	3-30
Shadow Point	172	Spring Valley, CA	—	2,812	11,170	2,406	2,820	13,568	16,388	(6,197	)	1983	Dec-02	3-30
Shadowbrook	418	Redmond, WA	—	19,292	77,168	2,326	19,292	79,494	98,786	(5,082	)	1986	Apr-14	5-30
Slater 116	108	Kirkland, WA	—	7,379	22,138	513	7,379	22,651	30,030	(1,793	)	2013	Sep-13	3-30
Solstice	280	Sunnyvale, CA	—	34,444	147,262	4,096	34,444	151,358	185,802	(11,281	)	2014	Apr-14	5-30
Stonehedge Village	196	Bothell, WA	—	3,167	12,603	5,739	3,201	18,308	21,509	(11,102	)	1986	Oct-97	3-30
Summit Park	300	San Diego, CA	—	5,959	23,670	4,773	5,977	28,425	34,402	(13,134	)	1972	Dec-02	3-30
Taylor 28	197	Seattle, WA	—	13,915	57,700	218	13,915	57,918	71,833	(3,686	)	2008	Apr-14	5-30
The Cairns	100	Seattle, WA	—	6,937	20,679	1,055	6,939	21,732	28,671	(6,340	)	2006	Jun-07	3-30
The Commons	264	Campbell, CA	—	12,555	29,307	4,687	12,556	33,993	46,549	(7,457	)	1973	Jul-10	3-30
The Grand	243	Oakland, CA	—	4,531	89,208	5,072	4,531	94,280	98,811	(24,391	)	2009	Jan-09	3-30
The Hallie on del Mar/Rey/Sol	292	Pasadena, CA	—	2,202	4,794	48,986	8,385	47,597	55,982	(17,675	)	1972	Apr-99	3-30
The Lofts at Pinehurst	118	Sunnyvale, CA	—	1,570	3,912	4,544	1,618	8,408	10,026	(4,565	)	2012	Apr-14	3-30
The Pointe at Cupertino	116	Cupertino, CA	—	4,505	17,605	11,510	4,505	29,115	33,620	(11,984	)	1963	Aug-98	3-30
The Stuart at Sierra Madre	188	Pasadena, CA	—	13,574	54,298	1,486	13,574	55,784	69,358	(3,674	)	2007	Apr-14	5-30
The Trails of Redmond	423	Redmond, WA	—	21,930	87,720	2,408	21,930	90,128	112,058	(5,779	)	1985	Apr-14	5-30
Tiffany Court	101	Los Angeles, CA	—	6,949	27,796	461	6,949	28,257	35,206	(1,811	)	1987	Apr-14	5-30
Trabuco Villas	132	Lake Forest, CA	—	3,638	8,640	2,605	3,890	10,993	14,883	(6,549	)	1985	Oct-97	3-30

									Costs
					Initial cost				capitalized		Gross amount carried at close of period
	Apartment						Buildings and		subsequent to		Land and		Buildings and				Accumulated			Date of	Date	Lives
Property	Homes	Location	Encumbrance		Land		improvements		acquisition		improvements		improvements		Total (1)		depreciation			construction	acquired	(years)
Tuscana	30	Tracy, CA	—		2,828		6,599		166		2,870		6,723		9,593		(2,668		)	2007	Feb-07	3-30
Via	284	Sunnyvale, CA	—		22,000		82,270		944		22,016		83,198		105,214		(15,571		)	2011	Jul-11	3-30
Villa Siena	272	Costa Mesa, CA	—		13,842		55,367		1,333		13,842		56,700		70,542		(3,632		)	1974	Apr-14	5-30
Village Green	272	La Habra, CA	—		6,488		36,768		2,168		6,488		38,936		45,424		(2,491		)	1971	Apr-14	5-30
Vista Belvedere	76	Tiburon, CA	—		5,573		11,901		7,360		5,573		19,261		24,834		(7,708		)	1963	Aug-04	3-30
Vox	58	Seattle, WA	—		5,545		16,635		70		5,545		16,705		22,250		(1,237		)	2013	Oct-13	3-30
Walnut Heights	163	Walnut, CA	—		4,858		19,168		3,920		4,887		23,059		27,946		(9,514		)	1964	Oct-03	3-30
Wharfside Pointe	155	Seattle, WA	—		2,245		7,020		10,292		2,258		17,299		19,557		(10,007		)	1990	Jun-94	3-30
Willow Lake	508	San Jose, CA	—		43,194		101,030		6,615		43,194		107,645		150,839		(12,559		)	1989	Oct-12	3-30
5600 Wilshire	284	Los Angeles, CA	—		30,535		91,604		471		30,535		92,075		122,610		(5,937		)	2008	Apr-14	5-30
Wilshire La Brea	478	Los Angeles, CA	—		56,932		211,998		6,259		56,932		218,257		275,189		(16,228		)	2014	Apr-14	5-30
Windsor Ridge	216	Sunnyvale, CA	—		4,017		10,315		15,210		4,021		25,521		29,542		(15,505		)	1989	Mar-89	3-30
Woodland Commons	302	Bellevue, WA	—		2,040		8,727		20,544		2,044		29,267		31,311		(14,679		)	1978	Mar-90	3-30
Woodside Village	145	Ventura, CA	—		5,331		21,036		3,502		5,341		24,528		29,869		(9,667		)	1987	Dec-04	3-30
	31,451		$	—	$	1,667,597	$	5,970,356	$	754,076	$	1,691,213	$	6,700,816	$	8,392,029	$	(1,177,395	)

									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	$	2,470	$	10,200	$	16,270	$	26,470	$	(5,777	)	1938	Jul-06	3-30
Santa Clara Retail	138,915	Santa Clara, CA	—		6,472		11,704		5,556		6,472		17,260		23,732		(4,643		)	1970	Sep-11	3-30
Derian Office Building	106,564	Irvine, CA	—		3,079		12,315		4,049		4,308		15,135		19,443		(11,162		)	1983	Jul-00	3-30
	279,479		$	—	$	19,751	$	37,819	$	12,075	$	20,980	$	48,665	$	69,645	$	(21,582	)
Total			$	2,215,077	$	2,484,492	$	8,598,162	$	1,248,815	$	2,522,842	$	9,808,627	$	12,331,469	$	(1,949,892	)

(1) The aggregate cost for federal income tax purposes is approximately $8.9 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 2030.

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

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

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

(8) 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:

	2015			2014			2013				2015			2014			2013
Rental properties:										Accumulated depreciation:
Balance at beginning of year	$	11,244,681		$	5,443,757		$	5,033,672		Balance at beginning of year	$	1,564,806		$	1,254,886		$	1,081,517
Improvements	220,895			135,812			92,016			Depreciation expense - Acquisitions	15,734			121,426			6,203
Acquisition of real estate (1)	805,124			5,678,054			344,476			Depreciation expense - Discontinued operations	—			—			12,290
Development of real estate	307,083			19,751			14,111			Depreciation expense - Rental properties	386,953			199,495			168,092
Disposition of real estate	(246,314		)	(32,693		)	(40,518		)	Dispositions	(17,601		)	(11,001		)	(13,216		)
Balance at the end of year	$	12,331,469		$	11,244,681		$	5,443,757		Balance at the end of year	$	1,949,892		$	1,564,806		$	1,254,886

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