Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2010

Real Estate and Accumulated Depreciation [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

APARTMENT INVESTMENT AND MANAGEMENT COMPANY
SCHEDULE III: REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2010
(In Thousands Except Unit Data)

							(2)				(3)
		(1)					Initial Cost				Cost Capitalized		December 31, 2010
	Property	Date		Year	Number				Buildings and		Subsequent to				Buildings and		(4)		Accumulated			Total Cost
Property Name	Type	Consolidated	Location	Built	of Units		Land		Improvements		Consolidation		Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
Conventional Properties:
100 Forest Place	High Rise	Dec-97	Oak Park, IL	1987		234	$	2,664	$	18,815	$	5,790	$	2,664	$	24,605	$	27,269	$	(9,484	)	$	17,785	$	27,347
1582 First Avenue	High Rise	Mar-05	New York, NY	1900		17		4,250		752		256		4,281		977		5,258		(308	)		4,950		2,639
173 E. 90th Street	High Rise	May-04	New York, NY	1910		72		11,773		4,535		2,369		12,067		6,610		18,677		(1,598	)		17,079		8,481
182-188 Columbus Avenue	Mid Rise	Feb-07	New York, NY	1910		32		17,187		3,300		4,066		19,123		5,430		24,553		(1,266	)		23,287		13,471
204-206 West 133rd Street	Mid Rise	Jun-07	New York, NY	1910		44		3,291		1,450		2,023		4,352		2,412		6,764		(441	)		6,323		3,132
2232-2240 Seventh Avenue	Mid Rise	Jun-07	New York, NY	1910		24		2,863		3,785		1,530		3,366		4,812		8,178		(743	)		7,435		2,973
2247-2253 Seventh Avenue	Mid Rise	Jun-07	New York, NY	1910		35		6,787		3,335		1,775		7,356		4,541		11,897		(848	)		11,049		5,483
2252-2258 Seventh Avenue	Mid Rise	Jun-07	New York, NY	1910		35		3,623		4,504		1,914		4,318		5,723		10,041		(1,027	)		9,014		5,125
2300-2310 Seventh Avenue	Mid Rise	Jun-07	New York, NY	1910		63		8,623		6,964		5,618		10,417		10,788		21,205		(2,073	)		19,132		9,896
236 - 238 East 88th Street	High Rise	Jan-04	New York, NY	1900		43		8,751		2,914		1,353		8,820		4,198		13,018		(1,360	)		11,658		6,736
237-239 Ninth Avenue	High Rise	Mar-05	New York, NY	1900		36		8,430		1,866		775		8,494		2,577		11,071		(775	)		10,296		5,165
240 West 73rd Street, LLC	High Rise	Sep-04	New York, NY	1900		200		68,006		12,140		4,131		68,109		16,168		84,277		(3,626	)		80,651		29,668
2484 Seventh Avenue	Mid Rise	Jun-07	New York, NY	1921		23		2,384		1,726		497		2,601		2,006		4,607		(340	)		4,267		2,472
2900 on First Apartments	Mid Rise	Oct-08	Seattle, WA	1989		135		19,015		17,518		613		19,071		18,075		37,146		(1,546	)		35,600		20,400
306 East 89th Street	High Rise	Jul-04	New York, NY	1930		20		2,659		1,006		168		2,681		1,152		3,833		(405	)		3,428		1,885
311 & 313 East 73rd Street	Mid Rise	Mar-03	New York, NY	1904		34		5,635		1,609		552		5,678		2,118		7,796		(1,088	)		6,708		2,703
322-324 East 61st Street	High Rise	Mar-05	New York, NY	1900		40		6,319		2,224		729		6,372		2,900		9,272		(881	)		8,391		3,627
3400 Avenue of the Arts	Mid Rise	Mar-02	Costa Mesa, CA	1987		770		55,223		65,506		73,569		57,240		137,058		194,298		(43,291	)		151,007		118,280
452 East 78th Street	High Rise	Jan-04	New York, NY	1900		12		1,966		608		285		1,982		877		2,859		(289	)		2,570		1,567
464-466 Amsterdam & 200-210 W. 83rd Street	Mid Rise	Feb-07	New York, NY	1910		72		23,677		7,101		4,367		25,552		9,593		35,145		(1,755	)		33,390		19,679
510 East 88th Street	High Rise	Jan-04	New York, NY	1900		20		3,137		1,002		287		3,163		1,263		4,426		(359	)		4,067		2,579
514-516 East 88th Street	High Rise	Mar-05	New York, NY	1900		36		6,230		2,168		569		6,282		2,685		8,967		(765	)		8,202		4,553
656 St. Nicholas Avenue	Mid Rise	Jun-07	New York, NY	1920		31		2,731		1,636		2,823		3,576		3,614		7,190		(739	)		6,451		2,375
707 Leahy	Garden	Apr-07	Redwood City, CA	1973		111		15,352		7,909		4,407		15,444		12,224		27,668		(2,269	)		25,399		14,983
759 St. Nicholas Avenue	Mid Rise	Oct-07	New York, NY	1920		9		682		535		683		1,013		887		1,900		(138	)		1,762		545
865 Bellevue	Garden	Jul-00	Nashville, TN	1972		326		3,558		12,037		27,236		3,558		39,273		42,831		(15,414	)		27,417		18,951
Arbors, The	Garden	Oct-97	Tempe, AZ	1967		200		1,092		6,208		3,378		1,092		9,586		10,678		(4,505	)		6,173		6,655
Arbours Of Hermitage, The	Garden	Jul-00	Hermitage, TN	1972		350		3,217		12,023		7,326		3,217		19,349		22,566		(8,540	)		14,026		10,059
Auburn Glen	Garden	Dec-06	Jacksonville, FL	1974		251		7,483		8,191		3,441		7,670		11,445		19,115		(2,767	)		16,348		9,765
BaLaye	Garden	Apr-06	Tampa, FL	2002		324		10,329		28,800		1,261		10,608		29,782		40,390		(5,202	)		35,188		22,658
Bank Lofts	High Rise	Apr-01	Denver, CO	1920		117		3,525		9,045		1,786		3,525		10,831		14,356		(5,080	)		9,276		7,138
Bay Parc Plaza	High Rise	Sep-04	Miami, FL	2000		471		22,680		41,847		4,346		22,680		46,193		68,873		(8,063	)		60,810		45,835
Bay Ridge at Nashua	Garden	Jan-03	Nashua, NH	1984		412		3,352		40,713		7,031		3,262		47,834		51,096		(12,617	)		38,479		40,337
Bayberry Hill Estates	Garden	Aug-02	Framingham, MA	1971		424		18,915		35,945		11,382		18,916		47,326		66,242		(16,011	)		50,231		34,820
Boston Lofts	High Rise	Apr-01	Denver, CO	1890		158		3,447		20,589		3,304		3,447		23,893		27,340		(10,686	)		16,654		14,582
Boulder Creek	Garden	Jul-94	Boulder, CO	1973		221		755		7,730		17,237		755		24,967		25,722		(12,807	)		12,915		11,311
Brandywine	Garden	Jul-94	St. Petersburg, FL	1972		477		1,437		12,725		9,193		1,437		21,918		23,355		(14,848	)		8,507		20,838
Breakers, The	Garden	Oct-98	Daytona Beach, FL	1985		208		1,008		5,507		3,349		1,008		8,856		9,864		(4,261	)		5,603		6,207
Broadcast Center	Garden	Mar-02	Los Angeles, CA	1990		279		27,603		41,244		29,464		29,407		68,904		98,311		(20,934	)		77,377		55,875
Buena Vista	Mid Rise	Jan-06	Pasadena, CA	1973		92		9,693		6,818		1,178		9,693		7,996		17,689		(1,207	)		16,482		10,476
Burke Shire Commons	Garden	Mar-01	Burke, VA	1986		360		4,867		23,617		4,216		4,867		27,833		32,700		(11,376	)		21,324		31,607
Calhoun Beach Club	High Rise	Dec-98	Minneapolis, MN	1928		332		11,708		73,334		47,028		11,708		120,362		132,070		(45,129	)		86,941		48,548
Canterbury Green	Garden	Dec-99	Fort Wayne, IN	1970		1,988		13,659		73,115		27,161		13,659		100,276		113,935		(50,369	)		63,566		52,666
Canyon Terrace	Garden	Mar-02	Saugus, CA	1984		130		7,300		6,602		6,192		7,508		12,586		20,094		(4,449	)		15,645		10,598
Casa del Mar at Baymeadows	Garden	Oct-06	Jacksonville, FL	1984		144		4,902		10,562		1,570		5,039		11,995		17,034		(2,302	)		14,732		9,294
Cedar Rim	Garden	Apr-00	Newcastle, WA	1980		104		761		5,218		17,275		761		22,493		23,254		(12,073	)		11,181		7,772
Center Square	High Rise	Oct-99	Doylestown, PA	1975		350		582		4,190		3,648		582		7,838		8,420		(3,479	)		4,941		14,644
Charleston Landing	Garden	Sep-00	Brandon, FL	1985		300		7,488		8,656		7,971		7,488		16,627		24,115		(7,051	)		17,064		13,057
Chesapeake Landing I	Garden	Sep-00	Aurora, IL	1986		416		15,800		16,875		5,621		15,800		22,496		38,296		(8,693	)		29,603		24,331
Chesapeake Landing II	Garden	Mar-01	Aurora, IL	1987		184		1,969		7,980		3,745		1,969		11,725		13,694		(5,276	)		8,418		10,099
Chestnut Hall	High Rise	Oct-06	Philadelphia, PA	1923		315		12,047		14,299		5,256		12,338		19,264		31,602		(5,490	)		26,112		18,356
Chestnut Hill	Garden	Apr-00	Philadelphia, PA	1963		821		6,463		49,315		49,521		6,463		98,836		105,299		(43,941	)		61,358		58,962
Chimneys of Cradle Rock	Garden	Jun-04	Columbia, MD	1979		198		2,234		8,107		911		2,040		9,212		11,252		(2,702	)		8,550		16,494
Colonnade Gardens	Garden	Oct-97	Phoenix, AZ	1973		196		766		4,346		3,011		766		7,357		8,123		(4,004	)		4,119		1,464
Colony at Kenilworth	Garden	Oct-99	Towson, MD	1966		383		2,403		18,798		14,392		2,403		33,190		35,593		(16,540	)		19,053		24,128
Columbus Avenue	Mid Rise	Sep-03	New York, NY	1880		59		35,472		9,450		3,763		35,527		13,158		48,685		(5,818	)		42,867		25,324
Country Lakes I	Garden	Apr-01	Naperville, IL	1982		240		8,512		10,832		3,422		8,512		14,254		22,766		(5,882	)		16,884		14,367
Country Lakes II	Garden	May-97	Naperville, IL	1986		400		5,165		29,430		6,072		5,165		35,502		40,667		(15,568	)		25,099		24,539
Creekside	Garden	Jan-00	Denver, CO	1974		328		2,953		12,697		5,668		3,189		18,129		21,318		(8,709	)		12,609		14,157
Creekside	Garden	Mar-02	Simi Valley, CA	1985		397		24,595		18,818		7,149		25,245		25,317		50,562		(9,342	)		41,220		40,670
Crescent at West Hollywood, The	Mid Rise	Mar-02	West Hollywood, CA	1985		130		15,382		10,215		15,245		15,765		25,077		40,842		(11,723	)		29,119		24,195
Douglaston Villas and Townhomes	Garden	Aug-99	Altamonte Springs, FL	1979		234		1,666		9,353		7,941		1,666		17,294		18,960		(7,378	)		11,582		10,384
Elm Creek	Mid Rise	Dec-97	Elmhurst, IL	1987		372		5,534		30,830		17,543		5,635		48,272		53,907		(21,197	)		32,710		34,695
Evanston Place	High Rise	Dec-97	Evanston, IL	1990		189		3,232		25,546		4,453		3,232		29,999		33,231		(11,529	)		21,702		21,417
Farmingdale	Mid Rise	Oct-00	Darien, IL	1975		240		11,763		15,174		9,317		11,763		24,491		36,254		(11,145	)		25,109		17,349
Ferntree	Garden	Mar-01	Phoenix, AZ	1968		219		2,078		13,752		3,462		2,079		17,213		19,292		(7,186	)		12,106		6,977
Fishermans Wharf	Garden	Nov-96	Clute, TX	1981		360		1,257		7,584		5,757		1,257		13,341		14,598		(6,252	)		8,346		6,852

							(2)				(3)
		(1)					Initial Cost				Cost Capitalized		December 31, 2010
	Property	Date		Year	Number				Buildings and		Subsequent to				Buildings and		(4)		Accumulated			Total Cost
Property Name	Type	Consolidated	Location	Built	of Units		Land		Improvements		Consolidation		Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
Flamingo Towers	High Rise	Sep-97	Miami Beach, FL	1960		1,127		32,191		38,399		220,608		32,239		258,959		291,198		(105,723	)		185,475		117,541
Forestlake Apartments	Garden	Mar-07	Daytona Beach, FL	1982		120		3,691		4,320		610		3,860		4,761		8,621		(838	)		7,783		4,658
Four Quarters Habitat	Garden	Jan-06	Miami, FL	1976		336		2,383		17,199		16,848		2,379		34,051		36,430		(13,301	)		23,129		10,974
Foxchase	Garden	Dec-97	Alexandria, VA	1940		2,113		15,419		96,062		34,962		15,496		130,947		146,443		(61,112	)		85,331		218,590
Georgetown	Garden	Aug-02	Framingham, MA	1964		207		12,351		13,168		2,216		12,351		15,384		27,735		(5,123	)		22,612		12,070
Glen at Forestlake, The	Garden	Mar-07	Daytona Beach, FL	1982		26		897		862		209		933		1,035		1,968		(174	)		1,794		1,022
Granada	Mid Rise	Aug-02	Framingham, MA	1958		72		4,577		4,058		881		4,577		4,939		9,516		(2,292	)		7,224		4,040
Grand Pointe	Garden	Dec-99	Columbia, MD	1972		325		2,715		16,771		5,613		2,715		22,384		25,099		(9,121	)		15,978		16,690
Greens	Garden	Jul-94	Chandler, AZ	2000		324		2,303		713		27,389		2,303		28,102		30,405		(14,494	)		15,911		12,087
Greenspoint at Paradise Valley	Garden	Jan-00	Phoenix, AZ	1985		336		3,042		13,223		12,552		3,042		25,775		28,817		(13,733	)		15,084		15,884
Hampden Heights	Garden	Jan-00	Denver, CO	1973		376		3,224		12,905		6,885		3,453		19,561		23,014		(9,518	)		13,496		13,639
Harbour, The	Garden	Mar-01	Melbourne, FL	1987		162		4,108		3,563		6,360		4,108		9,923		14,031		(3,661	)		10,370		—
Heritage Park at Alta Loma	Garden	Jan-01	Alta Loma, CA	1986		232		1,200		6,428		3,621		1,200		10,049		11,249		(4,108	)		7,141		7,264
Heritage Park Escondido	Garden	Oct-00	Escondido, CA	1986		196		1,055		7,565		1,454		1,055		9,019		10,074		(4,474	)		5,600		7,299
Heritage Park Livermore	Garden	Oct-00	Livermore, CA	1988		167		1,039		9,170		1,434		1,039		10,604		11,643		(5,029	)		6,614		7,532
Heritage Park Montclair	Garden	Mar-01	Montclair, CA	1985		144		690		4,149		1,279		690		5,428		6,118		(2,149	)		3,969		4,620
Heritage Village Anaheim	Garden	Oct-00	Anaheim, CA	1986		196		1,832		8,541		1,821		1,832		10,362		12,194		(5,210	)		6,984		8,858
Hidden Cove	Garden	Jul-98	Escondido, CA	1983		334		3,043		17,615		7,524		3,043		25,139		28,182		(11,328	)		16,854		30,561
Hidden Cove II	Garden	Jul-07	Escondido, CA	1986		117		12,730		6,530		5,614		12,849		12,025		24,874		(2,919	)		21,955		11,420
Hidden Harbour	Garden	Oct-02	Melbourne, FL	1985		216		1,444		7,590		5,500		1,444		13,090		14,534		(4,211	)		10,323		—
Highcrest Townhomes	Town Home	Jan-03	Woodridge, IL	1968		176		3,045		13,452		1,727		3,045		15,179		18,224		(6,713	)		11,511		10,724
Hillcreste	Garden	Mar-02	Century City, CA	1989		315		33,755		47,216		26,126		35,862		71,235		107,097		(25,749	)		81,348		56,594
Hillmeade	Garden	Nov-94	Nashville, TN	1986		288		2,872		16,069		14,093		2,872		30,162		33,034		(18,098	)		14,936		18,076
Horizons West Apartments	Mid Rise	Dec-06	Pacifica, CA	1970		78		8,763		6,376		1,634		8,887		7,886		16,773		(1,548	)		15,225		5,250
Hunt Club	Garden	Mar-01	Austin, TX	1987		384		10,342		11,920		8,707		10,342		20,627		30,969		(11,288	)		19,681		17,143
Hunt Club	Garden	Sep-00	Gaithersburg, MD	1986		336		17,859		13,149		4,272		17,859		17,421		35,280		(7,126	)		28,154		31,787
Hunter’s Chase	Garden	Jan-01	Midlothian, VA	1985		320		7,935		7,915		3,534		7,935		11,449		19,384		(4,080	)		15,304		16,169
Hunter’s Crossing	Garden	Apr-01	Leesburg, VA	1967		164		2,244		7,763		4,360		2,244		12,123		14,367		(7,363	)		7,004		6,845
Hunters Glen IV	Garden	Oct-99	Plainsboro, NJ	1976		264		2,709		14,420		5,028		2,709		19,448		22,157		(10,380	)		11,777		19,864
Hunters Glen V	Garden	Oct-99	Plainsboro, NJ	1976		304		3,283		17,337		5,410		3,283		22,747		26,030		(12,046	)		13,984		23,864
Hunters Glen VI	Garden	Oct-99	Plainsboro, NJ	1976		328		2,787		15,501		6,279		2,787		21,780		24,567		(12,372	)		12,195		24,838
Hyde Park Tower	High Rise	Oct-04	Chicago, IL	1990		155		4,683		14,928		2,901		4,731		17,781		22,512		(3,462	)		19,050		13,842
Independence Green	Garden	Jan-06	Farmington Hills, MI	1960		981		10,293		24,586		21,221		10,156		45,944		56,100		(15,476	)		40,624		27,372
Indian Oaks	Garden	Mar-02	Simi Valley, CA	1986		254		23,927		15,801		4,086		24,523		19,291		43,814		(6,778	)		37,036		32,716
Island Club	Garden	Oct-00	Daytona Beach, FL	1986		204		6,086		8,571		2,330		6,087		10,900		16,987		(4,927	)		12,060		8,440
Island Club	Garden	Oct-00	Oceanside, CA	1986		592		18,027		28,654		12,050		18,027		40,704		58,731		(18,241	)		40,490		64,102
Key Towers	High Rise	Apr-01	Alexandria, VA	1964		140		1,526		7,050		5,031		1,526		12,081		13,607		(5,674	)		7,933		10,736
Lakeside	Garden	Oct-99	Lisle, IL	1972		568		5,840		27,937		28,990		5,840		56,927		62,767		(26,920	)		35,847		29,050
Lakeside at Vinings Mountain	Garden	Jan-00	Atlanta, GA	1983		220		2,109		11,863		15,288		2,109		27,151		29,260		(13,281	)		15,979		9,297
Lakeside Place	Garden	Oct-99	Houston, TX	1976		734		6,160		34,151		15,829		6,160		49,980		56,140		(21,691	)		34,449		26,670
Lamplighter Park	Garden	Apr-00	Bellevue, WA	1967		174		2,225		9,272		4,513		2,225		13,785		16,010		(7,046	)		8,964		10,444
Latrobe	High Rise	Jan-03	Washington, DC	1980		175		3,459		9,103		15,756		3,459		24,859		28,318		(12,479	)		15,839		21,960
Lazy Hollow	Garden	Apr-05	Columbia, MD	1979		178		2,424		12,181		1,075		2,424		13,256		15,680		(5,985	)		9,695		13,896
Lewis Park	Garden	Jan-06	Carbondale, IL	1972		269		1,407		12,193		3,403		1,404		15,599		17,003		(9,351	)		7,652		3,739
Lincoln Place Garden	Garden	Oct-04	Venice, CA	1951		696		43,979		10,439		99,532		42,894		111,056		153,950		(1,943	)		152,007		63,000
Lodge at Chattahoochee, The	Garden	Oct-99	Sandy Springs, GA	1970		312		2,320		16,370		22,232		2,320		38,602		40,922		(18,613	)		22,309		10,974
Los Arboles	Garden	Sep-97	Chandler, AZ	1986		232		1,662		9,504		3,522		1,662		13,026		14,688		(6,226	)		8,462		7,996
Malibu Canyon	Garden	Mar-02	Calabasas, CA	1986		698		66,257		53,438		35,821		69,834		85,682		155,516		(35,048	)		120,468		96,233
Maple Bay	Garden	Dec-99	Virginia Beach, VA	1971		414		2,598		16,141		30,168		2,598		46,309		48,907		(20,430	)		28,477		32,994
Mariners Cove	Garden	Mar-02	San Diego, CA	1984		500		—		66,861		7,555		—		74,416		74,416		(21,635	)		52,781		4,915
Meadow Creek	Garden	Jul-94	Boulder, CO	1968		332		1,435		24,532		6,526		1,435		31,058		32,493		(14,418	)		18,075		23,746
Merrill House	High Rise	Jan-00	Falls Church, VA	1964		159		1,836		10,831		6,423		1,836		17,254		19,090		(5,336	)		13,754		15,600
Mesa Royale	Garden	Jul-94	Mesa, AZ	1985		153		832		4,569		9,675		832		14,244		15,076		(6,590	)		8,486		5,093
Monterey Grove	Garden	Jun-08	San Jose, CA	1999		224		34,175		21,939		2,424		34,325		24,213		58,538		(2,999	)		55,539		34,826
Oak Park Village	Garden	Oct-00	Lansing, MI	1973		618		10,048		16,771		8,035		10,048		24,806		34,854		(14,010	)		20,844		23,487
Ocean Oaks	Garden	May-98	Port Orange, FL	1987		296		2,132		12,855		3,424		2,132		16,279		18,411		(7,139	)		11,272		10,295
One Lytle Place	High Rise	Jan-00	Cincinnati ,OH	1980		231		2,662		21,800		12,916		2,662		34,716		37,378		(14,193	)		23,185		15,450
Pacific Bay Vistas	Garden	Mar-01	San Bruno, CA	1987		308		3,703		62,460		25,945		22,994		69,114		92,108		(55,442	)		36,666		—
Pacifica Park	Garden	Jul-06	Pacifica, CA	1977		104		12,770		6,579		3,234		12,970		9,613		22,583		(2,801	)		19,782		11,049
Palazzo at Park La Brea, The	Mid Rise	Feb-04	Los Angeles, CA	2002		521		47,822		125,464		11,001		48,362		135,925		184,287		(35,703	)		148,584		123,809
Palazzo East at Park La Brea, The	Mid Rise	Mar-05	Los Angeles, CA	2005		611		61,004		136,503		22,826		72,578		147,755		220,333		(33,073	)		187,260		150,000
Paradise Palms	Garden	Jul-94	Phoenix, AZ	1985		130		647		3,515		7,074		647		10,589		11,236		(6,439	)		4,797		6,315
Park Towne Place	High Rise	Apr-00	Philadelphia, PA	1959		959		10,451		47,301		55,507		10,451		102,808		113,259		(29,724	)		83,535		85,165
Parktown Townhouses	Garden	Oct-99	Deer Park, TX	1968		309		2,570		12,052		10,497		2,570		22,549		25,119		(8,886	)		16,233		10,554
Parkway	Garden	Mar-00	Willamsburg, VA	1971		148		386		2,834		3,326		386		6,160		6,546		(3,583	)		2,963		9,128
Pathfinder Village	Garden	Jan-06	Fremont, CA	1973		246		19,595		14,838		8,400		19,595		23,238		42,833		(4,555	)		38,278		19,121
Peachtree Park	Garden	Jan-96	Atlanta, GA	1969		303		4,683		11,713		11,744		4,683		23,457		28,140		(10,572	)		17,568		9,231
Peak at Vinings Mountain, The	Garden	Jan-00	Atlanta, GA	1980		280		2,651		13,660		17,806		2,651		31,466		34,117		(15,234	)		18,883		10,002
Peakview Place	Garden	Jan-00	Englewood, CO	1975		296		3,440		18,734		4,695		3,440		23,429		26,869		(16,129	)		10,740		12,567
Peppertree	Garden	Mar-02	Cypress, CA	1971		136		7,835		5,224		2,868		8,030		7,897		15,927		(3,151	)		12,776		15,617
Pine Lake Terrace	Garden	Mar-02	Garden Grove, CA	1971		111		3,975		6,035		2,209		4,125		8,094		12,219		(2,929	)		9,290		11,898
Pine Shadows	Garden	May-98	Tempe, AZ	1983		272		2,095		11,899		3,888		2,095		15,787		17,882		(8,163	)		9,719		7,500
Pines, The	Garden	Oct-98	Palm Bay, FL	1984		216		603		3,318		2,830		603		6,148		6,751		(2,701	)		4,050		1,896

							(2)				(3)
		(1)					Initial Cost				Cost Capitalized		December 31, 2010
	Property	Date		Year	Number				Buildings and		Subsequent to				Buildings and		(4)		Accumulated			Total Cost
Property Name	Type	Consolidated	Location	Built	of Units		Land		Improvements		Consolidation		Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
Plantation Gardens	Garden	Oct-99	Plantation ,FL	1971		372		3,773		19,443		9,324		3,773		28,767		32,540		(12,033	)		20,507		23,798
Post Ridge	Garden	Jul-00	Nashville, TN	1972		150		1,883		6,712		4,321		1,883		11,033		12,916		(5,084	)		7,832		5,961
Ramblewood	Garden	Dec-99	Wyoming, MI	1973		1,704		8,607		61,082		3,863		8,661		64,891		73,552		(15,065	)		58,487		34,388
Ravensworth Towers	High Rise	Jun-04	Annandale, VA	1974		219		3,455		17,157		3,018		3,455		20,175		23,630		(10,249	)		13,381		20,172
Reflections	Garden	Oct-02	Casselberry, FL	1984		336		3,906		10,491		4,538		3,906		15,029		18,935		(5,493	)		13,442		10,700
Reflections	Garden	Sep-00	Virginia Beach, VA	1987		480		15,988		13,684		5,591		15,988		19,275		35,263		(8,531	)		26,732		39,832
Reflections	Garden	Oct-00	West Palm Beach, FL	1986		300		5,504		9,984		4,677		5,504		14,661		20,165		(5,777	)		14,388		9,101
Regency Oaks	Garden	Oct-99	Fern Park, FL	1961		343		1,832		9,905		10,415		1,832		20,320		22,152		(11,054	)		11,098		10,978
Remington at Ponte Vedra Lakes	Garden	Dec-06	Ponte Vedra Beach, FL	1986		344		18,576		18,650		2,468		18,795		20,899		39,694		(4,581	)		35,113		24,345
River Club	Garden	Apr-05	Edgewater, NJ	1998		266		30,578		30,638		2,155		30,579		32,792		63,371		(7,544	)		55,827		37,920
River Reach	Garden	Sep-00	Naples, FL	1986		556		17,728		18,337		7,378		17,728		25,715		43,443		(11,353	)		32,090		23,354
Riverbend Village	Garden	Jul-01	Arlington, TX	1983		201		893		4,128		5,054		893		9,182		10,075		(4,704	)		5,371		—
Riverloft	High Rise	Oct-99	Philadelphia, PA	1910		184		2,120		11,287		31,208		2,120		42,495		44,615		(16,738	)		27,877		18,881
Riverside	High Rise	Apr-00	Alexandria ,VA	1973		1,222		10,433		65,474		80,363		10,409		145,861		156,270		(72,434	)		83,836		105,508
Rosewood	Garden	Mar-02	Camarillo, CA	1976		152		12,128		8,060		2,532		12,430		10,290		22,720		(3,749	)		18,971		17,900
Royal Crest Estates	Garden	Aug-02	Fall River, MA	1974		216		5,832		12,044		2,082		5,832		14,126		19,958		(6,329	)		13,629		11,686
Royal Crest Estates	Garden	Aug-02	Marlborough, MA	1970		473		25,178		28,786		4,117		25,178		32,903		58,081		(15,197	)		42,884		34,969
Royal Crest Estates	Garden	Aug-02	Nashua, NH	1970		902		68,231		45,562		11,730		68,231		57,292		125,523		(28,323	)		97,200		48,117
Royal Crest Estates	Garden	Aug-02	North Andover, MA	1970		588		51,292		36,808		10,653		51,292		47,461		98,753		(21,029	)		77,724		59,507
Royal Crest Estates	Garden	Aug-02	Warwick, RI	1972		492		22,433		24,095		5,605		22,433		29,700		52,133		(13,883	)		38,250		37,433
Runaway Bay	Garden	Oct-00	Lantana, FL	1987		404		5,934		16,052		8,111		5,934		24,163		30,097		(9,195	)		20,902		21,521
Runaway Bay	Garden	Jul-02	Pinellas Park, FL	1986		192		1,884		7,045		3,843		1,884		10,888		12,772		(2,988	)		9,784		8,848
Savannah Trace	Garden	Mar-01	Shaumburg, IL	1986		368		13,960		20,731		4,369		13,960		25,100		39,060		(9,545	)		29,515		22,015
Scotchollow	Garden	Jan-06	San Mateo, CA	1971		418		49,474		17,756		8,864		49,474		26,620		76,094		(5,014	)		71,080		48,982
Scottsdale Gateway I	Garden	Oct-97	Tempe, AZ	1965		124		591		3,359		8,042		591		11,401		11,992		(5,172	)		6,820		5,800
Scottsdale Gateway II	Garden	Oct-97	Tempe, AZ	1972		487		2,458		13,927		23,595		2,458		37,522		39,980		(18,369	)		21,611		16,699
Shadow Creek	Garden	May-98	Mesa, AZ	1984		266		2,016		11,886		4,017		2,016		15,903		17,919		(8,416	)		9,503		—
Shenandoah Crossing	Garden	Sep-00	Fairfax, VA	1984		640		18,492		57,197		8,058		18,492		65,255		83,747		(30,696	)		53,051		68,604
Signal Pointe	Garden	Oct-99	Winter Park, FL	1969		368		2,382		11,359		22,094		2,382		33,453		35,835		(13,652	)		22,183		18,596
Signature Point	Garden	Nov-96	League City, TX	1994		304		2,810		17,579		2,983		2,810		20,562		23,372		(7,452	)		15,920		10,269
Springwoods at Lake Ridge	Garden	Jul-02	Woodbridge, VA	1984		180		5,587		7,284		1,450		5,587		8,734		14,321		(2,349	)		11,972		14,250
Spyglass at Cedar Cove	Garden	Sep-00	Lexington Park, MD	1985		152		3,241		5,094		2,735		3,241		7,829		11,070		(3,595	)		7,475		10,300
Stafford	High Rise	Oct-02	Baltimore, MD	1889		96		706		4,032		3,454		562		7,630		8,192		(4,261	)		3,931		4,255
Steeplechase	Garden	Sep-00	Largo, MD	1986		240		3,675		16,111		3,755		3,675		19,866		23,541		(8,054	)		15,487		23,326
Steeplechase	Garden	Jul-02	Plano, TX	1985		368		7,056		10,510		7,183		7,056		17,693		24,749		(6,390	)		18,359		16,575
Sterling Apartment Homes, The	Garden	Oct-99	Philadelphia, PA	1961		537		8,871		55,364		21,600		8,871		76,964		85,835		(34,388	)		51,447		76,778
Stone Creek Club	Garden	Sep-00	Germantown, MD	1984		240		13,593		9,347		3,381		13,593		12,728		26,321		(7,386	)		18,935		24,611
Sun Lake	Garden	May-98	Lake Mary, FL	1986		600		4,551		25,543		32,151		4,551		57,694		62,245		(24,911	)		37,334		35,128
Sun River Village	Garden	Oct-99	Tempe ,AZ	1981		334		2,367		13,303		4,157		2,367		17,460		19,827		(9,273	)		10,554		10,467
Tamarac Village	Garden	Apr-00	Denver, CO	1979		564		3,928		23,491		8,715		4,223		31,911		36,134		(17,565	)		18,569		18,212
Tamarind Bay	Garden	Jan-00	St. Petersburg, FL	1980		200		1,091		6,310		5,193		1,091		11,503		12,594		(6,110	)		6,484		6,838
Tatum Gardens	Garden	May-98	Phoenix, AZ	1985		128		1,323		7,155		2,035		1,323		9,190		10,513		(5,152	)		5,361		7,334
Bluffs at Pacifica, The	Garden	Oct-06	Pacifica, CA	1963		64		7,975		4,131		10,549		8,108		14,547		22,655		(2,601	)		20,054		6,323
Towers Of Westchester Park, The	High Rise	Jan-06	College Park, MD	1972		303		15,198		22,029		4,763		15,198		26,792		41,990		(5,219	)		36,771		27,272
Township At Highlands	Town Home	Nov-96	Centennial, CO	1985		161		1,615		9,773		6,227		1,536		16,079		17,615		(7,771	)		9,844		16,365
Twin Lake Towers	High Rise	Oct-99	Westmont, IL	1969		399		3,268		18,763		23,912		3,268		42,675		45,943		(19,292	)		26,651		26,759
Twin Lakes	Garden	Apr-00	Palm Harbor, FL	1986		262		2,062		12,850		4,809		2,062		17,659		19,721		(8,622	)		11,099		10,471
Vantage Pointe	Mid Rise	Aug-02	Swampscott, MA	1987		96		4,749		10,089		1,432		4,749		11,521		16,270		(3,847	)		12,423		6,978
Verandahs at Hunt Club	Garden	Jul-02	Apopka, FL	1985		210		2,271		7,724		3,346		2,271		11,070		13,341		(3,268	)		10,073		10,891
Views at Vinings Mountain, The	Garden	Jan-06	Atlanta, GA	1983		180		610		5,026		12,158		610		17,184		17,794		(9,692	)		8,102		13,577
Villa Del Sol	Garden	Mar-02	Norwalk, CA	1972		120		7,294		4,861		2,666		7,476		7,345		14,821		(3,122	)		11,699		13,386
Village Crossing	Garden	May-98	West Palm Beach, FL	1985		189		1,618		8,188		3,040		1,618		11,228		12,846		(5,947	)		6,899		7,000
Village in the Woods	Garden	Jan-00	Cypress, TX	1983		530		3,457		15,787		10,605		3,457		26,392		29,849		(14,251	)		15,598		19,250
Village of Pennbrook	Garden	Oct-98	Levittown, PA	1969		722		10,229		38,222		14,189		10,229		52,411		62,640		(24,526	)		38,114		47,804
Villages of Baymeadows	Garden	Oct-99	Jacksonville, FL	1972		904		4,859		33,957		55,352		4,859		89,309		94,168		(47,875	)		46,293		37,113
Villas at Park La Brea, The	Garden	Mar-02	Los Angeles, CA	2002		250		8,621		48,871		3,886		8,630		52,748		61,378		(14,930	)		46,448		28,949
Vista Del Lagos	Garden	Dec-97	Chandler, AZ	1986		200		804		4,952		3,646		804		8,598		9,402		(3,740	)		5,662		11,618
Waterford Village	Garden	Aug-02	Bridgewater, MA	1971		588		28,585		28,102		5,896		29,110		33,473		62,583		(17,747	)		44,836		40,130
Waterways Village	Garden	Jun-97	Aventura, FL	1994		180		4,504		11,064		4,062		4,504		15,126		19,630		(7,089	)		12,541		6,443
Waverly Apartments	Garden	Aug-08	Brighton, MA	1970		103		7,696		11,347		1,275		7,920		12,398		20,318		(1,302	)		19,016		12,000
West Winds	Garden	Oct-02	Orlando, FL	1985		272		2,324		11,481		3,319		2,324		14,800		17,124		(5,545	)		11,579		12,570
Westway Village	Garden	May-98	Houston, TX	1977		326		2,921		11,384		3,503		2,921		14,887		17,808		(7,395	)		10,413		7,677
Wexford Village	Garden	Aug-02	Worcester, MA	1974		264		6,339		17,939		2,203		6,339		20,142		26,481		(8,167	)		18,314		13,269
Willow Bend	Garden	May-98	Rolling Meadows, IL	1969		328		2,717		15,437		26,536		2,717		41,973		44,690		(18,148	)		26,542		19,595
Willow Park on Lake Adelaide	Garden	Oct-99	Altamonte Springs, FL	1972		185		1,225		7,357		3,519		1,224		10,877		12,101		(6,063	)		6,038		6,716
Windrift	Garden	Mar-01	Oceanside, CA	1987		404		24,960		17,590		19,325		24,960		36,915		61,875		(18,841	)		43,034		44,601
Windrift	Garden	Oct-00	Orlando, FL	1987		288		3,696		10,029		5,834		3,696		15,863		19,559		(6,451	)		13,108		16,841
Windsor Crossing	Garden	Mar-00	Newport News, VA	1978		156		307		2,110		2,528		131		4,814		4,945		(2,358	)		2,587		1,885
Windsor Park	Garden	Mar-01	Woodbridge, VA	1987		220		4,279		15,970		2,329		4,279		18,299		22,578		(7,179	)		15,399		19,325
Woodcreek	Garden	Oct-02	Mesa, AZ	1985		432		2,426		15,886		4,767		2,426		20,653		23,079		(11,433	)		11,646		19,165
Woods of Burnsville	Garden	Nov-04	Burnsville, MN	1984		400		3,954		18,125		2,890		3,954		21,015		24,969		(8,248	)		16,721		16,580
Woods of Inverness	Garden	Oct-99	Houston, TX	1983		272		2,146		10,978		4,115		2,146		15,093		17,239		(7,424	)		9,815		5,878
Woods Of Williamsburg	Garden	Jan-06	Williamsburg, VA	1976		125		798		3,657		1,102		798		4,759		5,557		(3,546	)		2,011		1,090

							(2)					(3)
		(1)					Initial Cost					Cost Capitalized		December 31, 2010
	Property	Date		Year	Number				Buildings and			Subsequent to				Buildings and		(4)		Accumulated			Total Cost
Property Name	Type	Consolidated	Location	Built	of Units		Land		Improvements			Consolidation		Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
Yacht Club at Brickell	High Rise	Dec-03	Miami, FL	1998		357		31,363		32,214			5,418		31,363		37,632		68,995		(7,188	)		61,807		37,289
Yorktown Apartments	High Rise	Dec-99	Lombard, IL	1971		364		2,971		18,163			17,222		3,055		35,301		38,356		(13,149	)		25,207		25,469
Total Conventional Properties						66,953		1,941,971		3,744,261			2,235,797		1,998,390		5,923,639		7,922,029		(2,370,275	)		5,551,754		4,685,082
Affordable Properties:
All Hallows	Garden	Jan-06	San Francisco, CA	1976		157		1,348		29,770			20,594		1,338		50,374		51,712		(18,274	)		33,438		21,207
Alliance Towers	High Rise	Mar-02	Alliance, OH	1979		101		530		1,934			773		530		2,707		3,237		(838	)		2,399		2,219
Antioch Towers	High Rise	Jan-10	Cleveland, OH	1976		171		720		8,802			88		720		8,890		9,610		(2,359	)		7,251		5,717
Anton Square	Garden	Jan-10	Whistler, AL	1984		48		152		1,846			53		152		1,899		2,051		(393	)		1,658		1,499
Arvada House	High Rise	Nov-04	Arvada, CO	1977		88		641		3,314			1,800		405		5,350		5,755		(1,520	)		4,235		4,118
Bayview	Garden	Jun-05	San Francisco, CA	1976		146		1,023		15,265			16,581		582		32,287		32,869		(12,021	)		20,848		10,934
Beacon Hill	High Rise	Mar-02	Hillsdale, MI	1980		198		1,380		7,044			6,650		1,093		13,981		15,074		(4,080	)		10,994		4,338
Bedford House	Mid Rise	Mar-02	Falmouth, KY	1979		48		230		919			335		230		1,254		1,484		(494	)		990		1,079
Benjamin Banneker Plaza	Mid Rise	Jan-06	Chester, PA	1976		70		79		3,862			810		79		4,672		4,751		(3,118	)		1,633		1,497
Berger Apartments	Mid Rise	Mar-02	New Haven, CT	1981		144		1,152		4,657			2,609		1,152		7,266		8,418		(2,332	)		6,086		595
Biltmore Towers	High Rise	Mar-02	Dayton, OH	1980		230		1,813		6,411			13,229		1,813		19,640		21,453		(10,325	)		11,128		10,591
Birchwood	Garden	Jan-10	Dallas, TX	1963		276		975		5,525			—		975		5,525		6,500		(380	)		6,120		4,240
Blakewood	Garden	Oct-05	Statesboro, GA	1973		42		316		882			402		316		1,284		1,600		(1,167	)		433		676
Bolton North	High Rise	Jan-06	Baltimore, MD	1977		209		1,450		6,569			806		1,429		7,396		8,825		(2,579	)		6,246		2,223
Bridge Street	Garden	Jan-10	East Stroudsburg, PA	1999		52		398		2,255			47		398		2,302		2,700		(169	)		2,531		2,016
Burchwood	Garden	Oct-07	Berea, KY	1999		24		147		247			494		147		741		888		(274	)		614		949
Butternut Creek	Mid Rise	Jan-06	Charlotte, MI	1980		100		505		3,617			3,785		505		7,402		7,907		(3,124	)		4,783		—
California Square I	High Rise	Jan-06	Louisville, KY	1982		101		154		5,704			560		154		6,264		6,418		(3,813	)		2,605		3,465
Canterbury Towers	High Rise	Jan-06	Worcester, MA	1976		156		567		4,557			1,012		567		5,569		6,136		(3,984	)		2,152		3,005
Canyon Shadows	Garden	Jan-10	Riverside, CA	1971		120		488		2,763			—		488		2,763		3,251		(205	)		3,046		2,547
Carriage House	Mid Rise	Dec-06	Petersburg, VA	1885		118		847		2,886			3,454		716		6,471		7,187		(1,951	)		5,236		2,041
Castlewood	Garden	Mar-02	Davenport, IA	1980		96		585		2,351			1,544		585		3,895		4,480		(1,753	)		2,727		3,486
City Line	Garden	Mar-02	Newport News, VA	1976		200		500		2,014			7,329		500		9,343		9,843		(1,598	)		8,245		4,786
Clisby Towers	Mid Rise	Jan-06	Macon, GA	1980		52		524		1,970			272		524		2,242		2,766		(1,736	)		1,030		881
Cold Spring Homes	Garden	Oct-07	Cold Springs, KY	2000		30		118		(433	)		1,129		118		696		814		(383	)		431		719
Community Circle II	Garden	Jan-06	Cleveland, OH	1975		129		263		4,699			962		263		5,661		5,924		(3,517	)		2,407		3,275
Copperwood I Apartments	Garden	Apr-06	The Woodlands, TX	1980		150		390		8,373			4,879		363		13,279		13,642		(9,980	)		3,662		5,529
Copperwood II Apartments	Garden	Oct-05	The Woodlands, TX	1981		150		452		5,552			3,442		459		8,987		9,446		(3,917	)		5,529		5,704
Country Club Heights	Garden	Mar-04	Quincy, IL	1976		200		676		5,715			4,872		675		10,588		11,263		(4,294	)		6,969		7,027
Country Commons	Garden	Jan-06	Bensalem, PA	1972		352		1,853		17,657			4,493		1,853		22,150		24,003		(11,635	)		12,368		12,633
Courtyard	Mid Rise	Jan-06	Cincinnati, OH	1980		137		1,362		4,876			548		1,362		5,424		6,786		(3,324	)		3,462		3,787
Courtyards at Kirnwood	Garden	Jan-10	DeSoto, TX	1997		198		861		4,881			—		861		4,881		5,742		(516	)		5,226		4,397
Courtyards of Arlington	Garden	Jan-10	Arlington, TX	1996		140		758		4,293			—		758		4,293		5,051		(286	)		4,765		2,943
Crevenna Oaks	Town Home	Jan-06	Burke, VA	1979		50		355		4,849			247		355		5,096		5,451		(1,436	)		4,015		3,197
Crockett Manor	Garden	Mar-04	Trenton, TN	1982		38		42		1,395			73		130		1,380		1,510		(115	)		1,395		978
Cumberland Court	Garden	Jan-06	Harrisburg, PA	1975		108		379		4,040			863		379		4,903		5,282		(3,490	)		1,792		1,228
Darby Townhouses	Town Home	Jan-10	Sharon Hill, PA	1970		172		1,298		11,115			218		1,298		11,333		12,631		(4,241	)		8,390		5,504
Daugette Tower	High Rise	Mar-02	Gadsden, AL	1979		100		540		2,178			1,841		540		4,019		4,559		(1,462	)		3,097		—
Day Meadows	Garden	Jan-10	Mountain Home, ID	1978		44		270		1,530			11		270		1,541		1,811		(81	)		1,730		956
Denny Place	Garden	Mar-02	North Hollywood, CA	1984		17		394		1,579			146		394		1,725		2,119		(542	)		1,577		1,111
Douglas Landing	Garden	Oct-07	Austin, TX	1999		96		750		4,250			95		750		4,345		5,095		(502	)		4,593		3,902
Elmwood	Garden	Jan-06	Athens, AL	1981		80		346		2,643			426		346		3,069		3,415		(1,793	)		1,622		1,860
Fairburn and Gordon I	Garden	Jan-10	Atlanta, GA	1969		102		143		1,941			292		143		2,233		2,376		(1,509	)		867		—
Fairburn and Gordon II	Garden	Jan-06	Atlanta, GA	1969		58		439		1,360			484		439		1,844		2,283		(1,568	)		715		—
Fairwood	Garden	Jan-06	Carmichael, CA	1979		86		176		5,264			460		176		5,724		5,900		(3,729	)		2,171		2,364
Fountain Place	Mid Rise	Jan-06	Connersville, IN	1980		102		440		2,091			2,914		378		5,067		5,445		(751	)		4,694		1,121
Fox Run	Garden	Mar-02	Orange, TX	1983		70		420		1,992			1,050		420		3,042		3,462		(1,166	)		2,296		2,549
Foxfire	Garden	Jan-06	Jackson, MI	1975		160		856		6,853			2,505		856		9,358		10,214		(5,660	)		4,554		1,611
Franklin Square School Apts	Mid Rise	Jan-06	Baltimore, MD	1888		65		566		3,581			259		566		3,840		4,406		(2,271	)		2,135		3,898
Friendset Apartments	High Rise	Jan-06	Brooklyn, NY	1979		259		550		16,825			1,873		550		18,698		19,248		(11,001	)		8,247		14,095
Frio	Garden	Jan-06	Pearsall, TX	1980		63		327		2,207			419		327		2,626		2,953		(1,855	)		1,098		1,109
Gates Manor	Garden	Mar-04	Clinton, TN	1981		80		266		2,225			927		264		3,154		3,418		(1,355	)		2,063		2,381
Georgetown Woods	Garden	Jan-10	Indianapolis, IN	1993		90		375		2,125			—		375		2,125		2,500		(175	)		2,325		2,118
Glens, The	Garden	Jan-06	Rock Hill, SC	1982		88		839		4,135			1,187		839		5,322		6,161		(3,939	)		2,222		3,723
Gotham Apts	Garden	Jan-10	Kansas City, MO	1930		105		471		5,419			79		471		5,498		5,969		(3,334	)		2,635		3,408
Greenbriar	Garden	Jan-06	Indianapolis, IN	1980		121		812		3,272			396		812		3,668		4,480		(2,583	)		1,897		3,266
Hamlin Estates	Garden	Mar-02	North Hollywood, CA	1983		30		1,010		1,691			262		1,010		1,953		2,963		(754	)		2,209		1,349
Hanover Square	High Rise	Jan-06	Baltimore, MD	1980		199		1,656		9,575			510		1,656		10,085		11,741		(6,567	)		5,174		10,500
Harris Park Apartments	Garden	Dec-97	Rochester, NY	1968		114		475		2,786			1,321		475		4,107		4,582		(1,959	)		2,623		42
Hatillo Housing	Mid Rise	Jan-06	Hatillo, PR	1982		64		202		2,875			515		202		3,390		3,592		(1,939	)		1,653		1,358
Henna Townhomes	Garden	Oct-07	Round Rock, TX	1999		160		1,716		9,197			270		1,736		9,447		11,183		(1,132	)		10,051		5,874
Hopkins Village	Mid Rise	Sep-03	Baltimore, MD	1979		165		438		5,973			3,593		549		9,455		10,004		(1,808	)		8,196		9,100
Hudson Gardens	Garden	Mar-02	Pasadena, CA	1983		41		914		1,548			607		914		2,155		3,069		(732	)		2,337		408
Ingram Square	Garden	Jan-06	San Antonio, TX	1980		120		630		3,137			5,863		630		9,000		9,630		(2,228	)		7,402		3,825
James Court	Garden	Jan-10	Meridian, ID	1978		50		345		1,955			9		345		1,964		2,309		(101	)		2,208		1,925
JFK Towers	Mid Rise	Jan-06	Durham, NC	1983		177		750		7,970			872		750		8,842		9,592		(5,001	)		4,591		5,736
Kephart Plaza	High Rise	Jan-06	Lock Haven, PA	1978		101		609		3,796			569		609		4,365		4,974		(3,131	)		1,843		1,650

							(2)				(3)
		(1)					Initial Cost				Cost Capitalized		December 31, 2010
	Property	Date		Year	Number				Buildings and		Subsequent to				Buildings and		(4)		Accumulated			Total Cost
Property Name	Type	Consolidated	Location	Built	of Units		Land		Improvements		Consolidation		Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
King Bell Apartments	Garden	Jan-06	Milwaukie, OR	1982		62		204		2,497		205		204		2,702		2,906		(1,535	)		1,371		1,599
Kirkwood House	High Rise	Sep-04	Baltimore, MD	1979		261		1,281		9,358		8,143		1,338		17,444		18,782		(3,162	)		15,620		16,000
Kubasek Trinity Manor	High Rise	Jan-06	Yonkers, NY	1981		130		54		8,308		1,864		54		10,172		10,226		(5,341	)		4,885		4,671
La Salle	Garden	Oct-00	San Francisco, CA	1976		145		1,841		19,568		17,382		1,866		36,925		38,791		(15,711	)		23,080		16,093
La Vista	Garden	Jan-06	Concord, CA	1981		75		565		4,448		4,230		581		8,662		9,243		(1,438	)		7,805		5,418
Lafayette Square	Garden	Jan-06	Camden, SC	1978		72		142		1,875		98		142		1,973		2,115		(1,664	)		451		236
Lake Avenue Commons	Garden	Jan-10	Cleveland, OH	1982		79		488		2,763		—		488		2,763		3,251		(158	)		3,093		3,070
Landau	Garden	Oct-05	Clinton, SC	1970		80		1,293		1,429		320		1,293		1,749		3,042		(1,770	)		1,272		228
Laurelwood	Garden	Jan-06	Morristown, TN	1981		65		75		1,870		224		75		2,094		2,169		(1,350	)		819		1,320
Lock Haven Gardens	Garden	Jan-06	Lock Haven, PA	1979		150		1,163		6,045		666		1,163		6,711		7,874		(4,894	)		2,980		2,359
Locust House	High Rise	Mar-02	Westminster, MD	1979		99		650		2,604		851		650		3,455		4,105		(1,228	)		2,877		2,084
Long Meadow	Garden	Jan-06	Cheraw, SC	1973		56		158		1,342		214		158		1,556		1,714		(1,232	)		482		165
Loring Towers	High Rise	Oct-02	Minneapolis, MN	1975		230		1,297		7,445		7,643		886		15,499		16,385		(4,787	)		11,598		10,501
Loring Towers Apartments	High Rise	Sep-03	Salem, MA	1973		250		129		14,050		6,599		187		20,591		20,778		(4,763	)		16,015		15,786
Maunakea Tower	High Rise	Jan-10	Honolulu, HI	1976		380		7,995		45,305		3,702		7,995		49,007		57,002		(2,074	)		54,928		34,957
Michigan Beach	Garden	Oct-07	Chicago, IL	1958		239		2,225		10,797		978		2,225		11,775		14,000		(4,011	)		9,989		5,576
Mill Pond	Mid Rise	Jan-06	Taunton, MA	1982		49		80		2,704		319		80		3,023		3,103		(1,768	)		1,335		983
Mill Run	Garden	Jan-10	Mobile, AL	1983		50		293		2,569		42		293		2,611		2,904		(818	)		2,086		1,466
Miramar Housing	High Rise	Jan-06	Ponce, PR	1983		96		367		5,085		425		367		5,510		5,877		(3,099	)		2,778		2,769
Montblanc Gardens	Town Home	Dec-03	Yauco, PR	1982		128		391		3,859		1,010		391		4,869		5,260		(2,645	)		2,615		3,252
Monticello Manor	Garden	Jan-10	San Antonio, TX	1998		154		647		3,665		—		647		3,665		4,312		(250	)		4,062		3,935
Moss Gardens	Mid Rise	Jan-06	Lafayette, LA	1980		114		524		3,818		824		524		4,642		5,166		(3,174	)		1,992		1,946
New Baltimore	Mid Rise	Mar-02	New Baltimore, MI	1980		101		888		2,360		5,157		896		7,509		8,405		(1,905	)		6,500		2,179
Newberry Park	Garden	Dec-97	Chicago, IL	1995		84		1,380		7,632		486		1,380		8,118		9,498		(2,972	)		6,526		7,299
Nintey Five Vine Street	Garden	Jan-10	Hartford, CT	1800		31		188		1,062		626		188		1,688		1,876		(104	)		1,772		1,055
Northpoint	Garden	Jan-00	Chicago, IL	1921		305		2,280		14,334		16,706		2,510		30,810		33,320		(16,997	)		16,323		19,101
Northwinds, The	Garden	Mar-02	Wytheville, VA	1978		144		500		2,012		575		500		2,587		3,087		(1,466	)		1,621		1,466
Oakbrook	Garden	Jan-08	Topeka, KS	1979		170		550		2,915		885		550		3,800		4,350		(773	)		3,577		2,636
Oakwood Manor	Garden	Mar-04	Milan, TN	1984		34		95		498		18		103		508		611		(140	)		471		316
O’Neil	High Rise	Jan-06	Troy, NY	1978		115		88		4,067		864		88		4,931		5,019		(3,452	)		1,567		2,595
Overbrook Park	Garden	Jan-06	Chillicothe, OH	1981		50		136		2,282		311		136		2,593		2,729		(1,458	)		1,271		1,432
Oxford House	Mid Rise	Mar-02	Deactur, IL	1979		156		993		4,164		928		993		5,092		6,085		(2,109	)		3,976		2,627
Panorama Park	Garden	Mar-02	Bakersfield, CA	1982		66		621		5,520		884		619		6,406		7,025		(1,687	)		5,338		2,255
Parc Chateau I	Garden	Jan-06	Lithonia, GA	1973		86		592		1,442		521		592		1,963		2,555		(1,861	)		694		359
Parc Chateau II	Garden	Jan-06	Lithonia, GA	1974		88		596		2,965		497		596		3,462		4,058		(2,626	)		1,432		361
Park Place	Mid Rise	Jun-05	St Louis, MO	1977		242		742		6,327		9,798		705		16,162		16,867		(10,003	)		6,864		9,423
Park Vista	Garden	Oct-05	Anaheim, CA	1958		392		6,155		25,929		4,822		6,155		30,751		36,906		(7,763	)		29,143		37,656
Parkways, The	Garden	Jun-04	Chicago, IL	1925		446		3,684		23,257		18,115		3,427		41,629		45,056		(14,959	)		30,097		21,209
Patman Switch	Garden	Jan-06	Hughes Springs, TX	1978		82		727		1,382		616		727		1,998		2,725		(1,589	)		1,136		1,229
Pavilion	High Rise	Mar-04	Philadelphia, PA	1976		296		—		15,416		1,471		—		16,887		16,887		(4,984	)		11,903		8,680
Peachwood Place	Garden	Oct-07	Waycross, GA	1999		72		390		748		82		390		830		1,220		(159	)		1,061		737
Pinebluff Village	Mid Rise	Jan-06	Salisbury, MD	1980		151		1,112		7,177		758		1,112		7,935		9,047		(5,801	)		3,246		1,893
Pinewood Place	Garden	Mar-02	Toledo, OH	1979		99		420		1,698		1,276		420		2,974		3,394		(1,408	)		1,986		1,992
Pleasant Hills	Garden	Apr-05	Austin, TX	1982		100		1,188		2,631		3,529		1,229		6,119		7,348		(2,237	)		5,111		3,171
Plummer Village	Mid Rise	Mar-02	North Hills, CA	1983		75		624		2,647		1,637		667		4,241		4,908		(1,968	)		2,940		2,560
Portner Place	Town Home	Jan-06	Washington, DC	1980		48		697		3,753		142		697		3,895		4,592		(431	)		4,161		6,348
Post Street Apartments	High Rise	Jan-06	Yonkers, NY	1930		56		148		3,315		461		148		3,776		3,924		(2,407	)		1,517		1,518
Pride Gardens	Garden	Dec-97	Flora, MS	1975		76		102		1,071		1,753		102		2,824		2,926		(1,586	)		1,340		1,062
Rancho California	Garden	Jan-06	Temecula, CA	1984		55		488		5,462		307		488		5,769		6,257		(3,035	)		3,222		4,480
Ridgewood Towers	High Rise	Mar-02	East Moline, IL	1977		140		698		2,803		818		698		3,621		4,319		(1,418	)		2,901		1,418
River Village	High Rise	Jan-06	Flint, MI	1980		340		1,756		13,877		3,599		1,756		17,476		19,232		(11,075	)		8,157		6,929
River’s Edge	Town Home	Jan-06	Greenville, MI	1983		49		311		2,097		391		311		2,488		2,799		(1,731	)		1,068		521
Riverwoods	High Rise	Jan-06	Kankakee, IL	1983		125		590		4,932		3,475		598		8,399		8,997		(1,678	)		7,319		4,702
Round Barn	Garden	Mar-02	Champaign, IL	1979		156		947		5,134		5,764		810		11,035		11,845		(2,565	)		9,280		5,078
San Jose Apartments	Garden	Sep-05	San Antonio, TX	1970		220		404		5,770		11,459		234		17,399		17,633		(4,471	)		13,162		5,069
San Juan Del Centro	Mid Rise	Sep-05	Boulder, CO	1971		150		243		7,110		12,574		438		19,489		19,927		(5,060	)		14,867		11,259
Sandy Hill Terrace	High Rise	Mar-02	Norristown, PA	1980		175		1,650		6,599		2,874		1,650		9,473		11,123		(3,341	)		7,782		3,351
Sandy Springs	Garden	Mar-05	Macon, GA	1979		74		366		1,522		1,451		366		2,973		3,339		(1,876	)		1,463		1,894
Santa Maria	Garden	Jan-10	San German, PR	1983		86		368		2,087		—		368		2,087		2,455		(390	)		2,065		2,343
School Street	Mid Rise	Jan-06	Taunton, MA	1920		75		219		4,335		670		219		5,005		5,224		(2,890	)		2,334		2,116
Shoreview	Garden	Oct-99	San Francisco, CA	1976		156		1,498		19,071		18,772		1,476		37,865		39,341		(16,745	)		22,596		17,391
South Bay Villa	Garden	Mar-02	Los Angeles, CA	1981		80		663		2,770		4,383		1,352		6,464		7,816		(4,055	)		3,761		3,018
Springfield Villas	Garden	Oct-07	Lockhart, TX	1999		32		—		1,153		86		—		1,239		1,239		(44	)		1,195		828
St. George Villas	Garden	Jan-06	St. George, SC	1984		40		86		1,025		147		86		1,172		1,258		(822	)		436		483
Stonegate Apts	Mid Rise	Jul-09	Indianapolis, IN	1920		52		255		3,610		353		255		3,963		4,218		(920	)		3,298		1,931
Sumler Terrace	Garden	Jan-06	Norfolk, VA	1976		126		215		4,400		671		215		5,071		5,286		(3,836	)		1,450		1,191
Summit Oaks	Town Home	Jan-06	Burke, VA	1980		50		382		4,930		311		382		5,241		5,623		(1,513	)		4,110		3,189
Suntree	Garden	Jan-06	St. Johns, MI	1980		121		403		6,488		2,012		403		8,500		8,903		(4,744	)		4,159		530
Tabor Towers	Mid Rise	Jan-06	Lewisburg, WV	1979		84		163		3,360		384		163		3,744		3,907		(2,263	)		1,644		1,906
Tamarac Apartments I	Garden	Nov-04	Woodlands, TX	1980		144		140		2,775		3,650		363		6,202		6,565		(2,451	)		4,114		4,117
Tamarac Apartments II	Garden	Nov-04	Woodlands, TX	1980		156		142		3,195		4,064		266		7,135		7,401		(2,786	)		4,615		4,460
Terraces	Mid Rise	Jan-06	Kettering, OH	1979		102		1,561		2,815		1,126		1,561		3,941		5,502		(2,652	)		2,850		2,472
Terry Manor	Mid Rise	Oct-05	Los Angeles, CA	1977		170		1,775		5,848		6,674		1,997		12,300		14,297		(5,810	)		8,487		6,859

							(2)				(3)
		(1)					Initial Cost				Cost Capitalized		December 31, 2010
	Property	Date		Year	Number				Buildings and		Subsequent to				Buildings and		(4)		Accumulated			Total Cost
Property Name	Type	Consolidated	Location	Built	of Units		Land		Improvements		Consolidation		Land		Improvements		Total		Depreciation (AD)			Net of AD		Encumbrances
Tompkins Terrace	Garden	Oct-02	Beacon, NY	1974		193		872		6,827		13,333		872		20,160		21,032		(4,632	)		16,400		8,211
Trestletree Village	Garden	Mar-02	Atlanta, GA	1981		188		1,150		4,655		1,838		1,150		6,493		7,643		(2,355	)		5,288		2,793
Underwood Elderly	High Rise	Jan-10	Hartford, CT	1982		136		2,274		7,238		580		2,274		7,818		10,092		(3,380	)		6,712		6,203
Underwood Family	Town Home	Jan-10	Hartford, CT	1982		25		830		1,505		44		830		1,549		2,379		(729	)		1,650		1,582
University Square	High Rise	Mar-05	Philadelphia, PA	1978		442		702		12,201		12,809		702		25,010		25,712		(9,800	)		15,912		18,405
Van Nuys Apartments	High Rise	Mar-02	Los Angeles, CA	1981		299		4,253		21,226		20,286		3,575		42,190		45,765		(7,748	)		38,017		22,224
Verdes Del Oriente	Garden	Jan-10	San Pedro, CA	1976		113		1,100		7,044		105		1,100		7,149		8,249		(2,841	)		5,408		5,471
Vicente Geigel Polanco	Garden	Jan-10	Isabela, PR	1983		80		361		2,044		—		361		2,044		2,405		(203	)		2,202		2,277
Victory Square	Garden	Mar-02	Canton, OH	1975		81		215		889		719		215		1,608		1,823		(728	)		1,095		833
Villa de Guadalupe	Garden	Jan-10	San Jose, CA	1982		101		1,770		8,456		31		1,770		8,487		10,257		(3,517	)		6,740		6,980
Village Oaks	Mid Rise	Jan-06	Catonsville, MD	1980		181		2,127		5,188		1,895		2,127		7,083		9,210		(4,997	)		4,213		4,252
Village of Kaufman	Garden	Mar-05	Kaufman, TX	1981		68		370		1,606		689		370		2,295		2,665		(846	)		1,819		1,843
Villas of Mount Dora	Garden	Jan-10	Mt. Dora, FL	1979		70		323		1,828		—		323		1,828		2,151		(156	)		1,995		1,704
Vintage Crossing	Town Home	Mar-04	Cuthbert, GA	1985		50		188		1,058		571		188		1,629		1,817		(1,051	)		766		1,614
Vista Park Chino	Garden	Mar-02	Chino, CA	1983		40		380		1,521		440		380		1,961		2,341		(776	)		1,565		3,120
Wah Luck House	High Rise	Jan-06	Washington, DC	1982		153		—		8,690		553		—		9,243		9,243		(2,723	)		6,520		8,613
Walnut Hills	High Rise	Jan-06	Cincinnati, OH	1983		198		888		5,608		5,176		826		10,846		11,672		(2,599	)		9,073		5,600
Wasco Arms	Garden	Mar-02	Wasco, CA	1982		78		625		2,519		1,050		625		3,569		4,194		(1,564	)		2,630		3,103
Washington Square West	Mid Rise	Sep-04	Philadelphia, PA	1982		132		555		11,169		6,078		582		17,220		17,802		(9,279	)		8,523		3,824
Westwood Terrace	Mid Rise	Mar-02	Moline, IL	1976		97		720		3,242		664		720		3,906		4,626		(1,356	)		3,270		1,488
White Cliff	Garden	Mar-02	Lincoln Heights, OH	1977		72		215		938		446		215		1,384		1,599		(639	)		960		996
Whitefield Place	Garden	Apr-05	San Antonio, TX	1980		80		223		3,151		2,570		219		5,725		5,944		(2,387	)		3,557		2,226
Wilderness Trail	High Rise	Mar-02	Pineville, KY	1983		124		1,010		4,048		739		1,010		4,787		5,797		(1,391	)		4,406		4,379
Wilkes Towers	High Rise	Mar-02	North Wilkesboro, NC	1981		72		410		1,680		514		410		2,194		2,604		(845	)		1,759		1,870
Willow Wood	Garden	Mar-02	North Hollywood, CA	1984		19		1,051		840		208		1,051		1,048		2,099		(350	)		1,749		1,057
Winnsboro Arms	Garden	Jan-06	Winnsboro, SC	1978		60		272		1,697		298		272		1,995		2,267		(1,572	)		695		112
Winter Gardens	High Rise	Mar-04	St Louis, MO	1920		112		300		3,072		4,489		300		7,561		7,861		(1,531	)		6,330		3,732
Woodcrest	Garden	Dec-97	Odessa, TX	1972		80		41		229		718		41		947		988		(788	)		200		430
Woodland	Garden	Jan-06	Spartanburg, SC	1972		100		182		663		1,438		182		2,101		2,283		(590	)		1,693		—
Woodland Hills	Garden	Oct-05	Jackson, MI	1980		125		541		3,875		4,275		321		8,370		8,691		(3,584	)		5,107		3,589
Woodlands	Garden	Jan-10	Whistler, AL	1983		50		213		2,277		29		213		2,306		2,519		(765	)		1,754		1,538
Total Affordable Properties						20,914		129,298		892,309		431,965		128,280		1,325,292		1,453,572		(519,859	)		933,713		745,446
Other (5)						—		1,038		2,470		3,693		2,064		5,138		7,202		(2,922	)		4,280		—
Total Continuing Operations						87,867		2,072,307		4,639,040		2,671,455		2,128,734		7,254,069		9,382,803		(2,893,056	)		6,489,747		5,430,528
Discontinued Operations:
Conventional Properties:
Fisherman’s Village	Garden	Jan-06	Indianapolis, IN	1982		328		2,156		9,936		3,023		2,156		12,959		15,115		(7,618	)		7,497		6,350
Timbertree	Garden	Oct-97	Phoenix, AZ	1979		387		2,292		13,000		6,728		2,292		19,728		22,020		(10,752	)		11,268		4,062
Total Conventional Properties:						715		4,448		22,936		9,751		4,448		32,687		37,135		(18,370	)		18,765		10,412
Affordable Properties:
Brittany Apartments	Garden	Jan-10	Raytown, MO	1971		144		465		2,635		—		465		2,635		3,100		(194	)		2,906		2,138
Calvert City	Garden	Jan-10	Calvert City, KY	1980		60		128		694		11		128		705		833		(663	)		170		711
Club, The	Garden	Jan-06	Lexington, NC	1972		87		498		2,128		688		498		2,816		3,314		(2,142	)		1,172		235
Delhaven Manor	Mid Rise	Mar-02	Jackson, MS	1983		104		575		2,304		2,046		575		4,350		4,925		(1,923	)		3,002		3,625
Madisonville	Garden	Jan-10	Madisonville, KY	1981		60		73		367		86		73		453		526		(498	)		28		589
Northlake Village	Garden	Oct-00	Lima, OH	1971		150		487		1,317		1,886		487		3,203		3,690		(1,987	)		1,703		—
Oswego Village	Garden	Jan-10	Columbia, PA	1979		68		392		2,221		—		392		2,221		2,613		(140	)		2,473		1,395
Park — Joplin Apartments	Garden	Oct-07	Joplin, MO	1974		192		1,154		5,539		402		1,154		5,941		7,095		(924	)		6,171		3,165
Rosedale Court Apartments	Garden	Mar-04	Dawson Springs, KY	1981		40		194		1,177		222		194		1,399		1,593		(612	)		981		858
Sherman Hills	High Rise	Jan-06	Wilkes-Barre, PA	1976		344		2,039		15,549		1,560		2,036		17,111		19,147		(13,910	)		5,237		2,686
Wickford	Garden	Mar-04	Henderson, NC	1983		44		247		946		198		247		1,144		1,391		(493	)		898		1,441
Total Affordable Properties						1,293		6,252		34,877		7,099		6,249		41,978		48,227		(23,486	)		24,741		16,843
Total Discontinued Operations						2,008		10,700		57,813		16,850		10,697		74,665		85,362		(41,856	)		43,506		27,255
Total						89,875	$	2,083,007	$	4,696,853	$	2,688,305	$	2,139,431	$	7,328,734	$	9,468,165	$	(2,934,912	)	$	6,533,253	$	5,457,783

(1)	Date we acquired the property or first consolidated the partnership which owns the property.
(2)	Initial cost includes the tendering costs to acquire the minority interest share of our consolidated real estate partnerships.
(3)	Costs capitalized subsequent to consolidation includes costs capitalized since acquisition or first consolidation of the partnership/property.
(4)	The aggregate cost of land and depreciable property for federal income tax purposes was approximately $3.8 billion at December 31, 2010.
(5)	Other includes land parcels, commercial properties and other related costs. We exclude such properties from our residential unit counts.

	2010			2009			2008
Real Estate
Balance at beginning of year	$	9,718,978		$	11,000,496		$	12,420,200
Additions during the year:
Newly consolidated assets and acquisition of limited partnership interests (1)		69,410			19,683			31,447
Acquisitions		—			—			107,445
Capital additions		175,329			275,444			665,233
Deductions during the year:
Casualty and other write-offs (2)		(15,865	)		(43,134	)		(130,595	)
Sales		(479,687	)		(1,533,511	)		(2,093,234	)
Balance at end of year	$	9,468,165		$	9,718,978		$	11,000,496
Accumulated Depreciation
Balance at beginning of year	$	2,723,844		$	2,815,497		$	3,047,716
Additions during the year:
Depreciation		422,099			478,550			497,395
Newly consolidated assets and acquisition of limited partnership interests (1)		(12,348	)		(2,763	)		(22,256	)
Deductions during the year:
Casualty and other write-offs		(4,831	)		(5,200	)		(1,838	)
Sales		(193,852	)		(562,240	)		(705,520	)
Balance at end of year	$	2,934,912		$	2,723,844		$	2,815,497

(1) Includes the effect of newly consolidated assets, acquisition of limited partnership interests and related activity.

(2) Casualty and other write-offs in 2008 include impairments totaling $91.1 million related to our Lincoln Place and Pacific Bay Vistas properties.