Investments in Partially Owned Entities (Tables)

12 Months Ended

Dec. 31, 2016

Investments in Partially Owned Entities [Abstract]

Partially Owned Property Balance Sheet Schedule [Table Text Block]

The following tables and information summarize the Company’s investments in partially owned entities as of December 31, 2016 (amounts in thousands except for project and apartment unit amounts):

	Consolidated			Unconsolidated
	(VIE)			(Non-VIE)			(VIE) (1)			Total
Total properties	17			2			—			2
Total apartment units	3,215			945			—			945
Balance sheet information at 12/31/16 (at 100%):
ASSETS
Investment in real estate	$	646,320		$	235,821		$	172,995		$	408,816
Accumulated depreciation	(211,038		)	(32,881		)	(44,544		)	(77,425		)
Investment in real estate, net	435,282			202,940			128,451			331,391
Cash and cash equivalents	30,271			5,287			47			5,334
Investments in unconsolidated entities	46,908			—			—			—
Deposits – restricted	345			262			—			262
Other assets	26,203			157			334			491
Total assets	$	539,009		$	208,646		$	128,832		$	337,478
LIABILITIES AND EQUITY/CAPITAL
Mortgage notes payable, net (2)	$	301,110		$	145,424		$	—		$	145,424
Accounts payable & accrued expenses	1,088			189			135			324
Accrued interest payable	1,037			691			—			691
Other liabilities	600			268			70			338
Security deposits	1,850			493			—			493
Total liabilities	305,685			147,065			205			147,270
Noncontrolling Interests – Partially Owned Properties/Partners' equity	10,609			59,115			86,120			145,235
Company equity/General and Limited Partners' Capital	222,715			2,466			42,507			44,973
Total equity/capital	233,324			61,581			128,627			190,208
Total liabilities and equity/capital	$	539,009		$	208,646		$	128,832		$	337,478

Partially Owned Property Income Statement Schedule [Table Text Block]

	Consolidated			Unconsolidated
	(VIE)			(Non-VIE)			(VIE) (1)			Total
Operating information for the year ended 12/31/16 (at 100%):
Operating revenue	$	90,634		$	26,615		$	5,214		$	31,829
Operating expenses	21,647			9,088			2,023			11,111
Net operating income	68,987			17,527			3,191			20,718
Property management	3,190			776			75			851
General and administrative/other	328			2			81			83
Depreciation	20,764			10,510			5,501			16,011
Operating income (loss)	44,705			6,239			(2,466		)	3,773
Interest and other income	53			—			—			—
Other expenses	(8		)	—			—			—
Interest:
Expense incurred, net	(13,857		)	(8,289		)	—			(8,289		)
Amortization of deferred financing costs	(345		)	(1		)	—			(1		)
Income (loss) before income and other taxes and (loss) from investments in unconsolidated entities	30,548			(2,051		)	(2,466		)	(4,517		)
Income and other tax (expense) benefit	(73		)	(13		)	—			(13		)
(Loss) from investments in unconsolidated entities	(1,439		)	—			—			—
Net income (loss)	$	29,036		$	(2,064	)	$	(2,466	)	$	(4,530	)

(1) Includes the Company's unconsolidated interest in an entity that owns the land underlying our Wisconsin Place apartment property and owns and operates the parking facility. This entity is excluded from the property and apartment unit count.

(2) All debt is non-recourse to the Company.

Note: The above tables exclude EQR's ownership interest in ERPOP and the Company's interests in unconsolidated joint ventures established in connection with the acquisition of certain real estate related assets from Archstone Enterprise LP (such assets are referred to herein as "Archstone"). These ventures owned certain Archstone assets and succeeded to certain residual Archstone liabilities/litigation, as well as responsibility for tax protection arrangements and third-party preferred interests in former Archstone subsidiaries. The preferred interests had an aggregate liquidation value of $39.9 million at December 31, 2016. The ventures are owned 60% by the Company. See below for further discussion.