XML 58 R37.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Real Estate (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Schedule Of Real Estate Investments And Accumulated Depreciation [Table Text Block] | The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of December 31, 2016 and 2015 (amounts in thousands):
|  | 2016 |  | 2015
Land |  | $ | 5,899,862 |  |  | $ | 5,864,046 |
Depreciable property: |  |  |  |  |  |
Buildings and improvements |  | 16,913,430 |  |  | 16,346,829 |
Furniture, fixtures and equipment |  | 1,346,300 |  |  | 1,207,098 |
In-Place lease intangibles |  | 470,849 |  |  | 483,160 |
Projects under development: |  |  |  |  |  |
Land |  | 115,876 |  |  | 284,995 |
Construction-in-progress |  | 521,292 |  |  | 837,381 |
Land held for development: |  |  |  |  |  |
Land |  | 84,440 |  |  | 120,007 |
Construction-in-progress |  | 34,376 |  |  | 38,836 |
Investment in real estate |  | 25,386,425 |  |  | 25,182,352 |
Accumulated depreciation |  | (5,360,389 | ) |  | (4,905,406 | )
Investment in real estate, net |  | $ | 20,026,036 |  |  | $ | 20,276,946 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The following table summarizes the carrying amounts for the Company's above and below market ground and retail lease intangibles as of December 31, 2016 and 2015 (amounts in thousands):
Description |  | Balance Sheet Location |  | 2016 |  | 2015
Assets |  |  |  |  |  |
Ground lease intangibles – below market |  | Other Assets |  | $ | 178,251 |  |  | $ | 178,251 |
Retail lease intangibles – above market |  | Other Assets |  | 1,260 |  |  | 1,260 |
Lease intangible assets |  |  |  | 179,511 |  |  | 179,511 |
Accumulated amortization |  |  |  | (17,972 | ) |  | (13,451 | )
Lease intangible assets, net |  |  |  | $ | 161,539 |  |  | $ | 166,060 |
Liabilities |  |  |  |  |  |
Ground lease intangibles – above market |  | Other Liabilities |  | $ | 2,400 |  |  | $ | 2,400 |
Retail lease intangibles – below market |  | Other Liabilities |  | 5,270 |  |  | 5,270 |
Lease intangible liabilities |  |  |  | 7,670 |  |  | 7,670 |
Accumulated amortization |  |  |  | (4,509 | ) |  | (3,414 | )
Lease intangible liabilities, net |  |  |  | $ | 3,161 |  |  | $ | 4,256 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table provides a summary of the aggregate amortization expense for above and below market ground lease intangibles and retail lease intangibles for each of the next five years (amounts in thousands):
|  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021
Ground lease intangibles |  | $ | 4,321 |  |  | $ | 4,321 |  |  | $ | 4,321 |  |  | $ | 4,321 |  |  | $ | 4,321 |
Retail lease intangibles |  | (540 | ) |  | (71 | ) |  | (71 | ) |  | (71 | ) |  | (67 | )
Total |  | $ | 3,781 |  |  | $ | 4,250 |  |  | $ | 4,250 |  |  | $ | 4,250 |  |  | $ | 4,254 |
Acquired Properties Table | During the year ended December 31, 2016, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands):
|  | Properties |  | Apartment Units |  | Purchase Price
Rental Properties – Consolidated (1) |  | 4 |  |  | 573 |  |  | $ | 249,334 |
Total |  | 4 |  |  | 573 |  |  | $ | 249,334 |
(1) | Purchase price includes an allocation of approximately $98.0 million to land and $151.3 million to depreciable property.
During the year ended December 31, 2015, the Company acquired the entire equity interest in the following from unaffiliated parties (purchase price in thousands):
|  | Properties |  | Apartment Units |  | Purchase Price
Rental Properties – Consolidated (1) |  | 4 |  |  | 625 |  |  | $ | 296,037 |
Land Parcels (2) |  | — |  |  | — |  |  | 27,800 |
Total |  | 4 |  |  | 625 |  |  | $ | 323,837 |
(1) | Purchase price includes an allocation of approximately $44.7 million to land and $251.3 million to depreciable property.
(2) | The Company acquired three contiguous land parcels in San Francisco during 2015 which will be combined for future development.
Disposed Properties Table | During the year ended December 31, 2015, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  | Apartment Units |  | Sales Price
Consolidated: |  |  |  |  |  |
Rental Properties (1) |  | 8 |  |  | 1,857 |  |  | $ | 513,312 |
Total |  | 8 |  |  | 1,857 |  |  | $ | 513,312 |
(1) | Includes a 193,230 square foot medical office building adjacent to our Longfellow Place property in Boston with a sales price of approximately $123.3 million which is not included in the Company's property and apartment unit counts.
During the year ended December 31, 2016, the Company disposed of the following to unaffiliated parties (sales price in thousands):
|  | Properties |  | Apartment Units |  | Sales Price
Consolidated: |  |  |  |  |  |
Rental Properties (1) |  | 98 |  |  | 29,440 |  |  | $ | 6,811,503 |
Land Parcels |  | — |  |  | — |  |  | 57,455 |
Unconsolidated: |  |  |  |  |  |
Rental Properties (2) |  | 1 |  |  | 336 |  |  | 74,500 |
Total |  | 99 |  |  | 29,776 |  |  | $ | 6,943,458 |
(1) | Includes the Starwood Portfolio sale (see further discussion below) representing 72 operating properties consisting of 23,262 apartment units for $5.365 billion.
(2) The Company owned a 20% interest in this unconsolidated rental property. Sale price listed is the gross sale price. The Company's share of the net sales proceeds approximated $12.4 million.
Schedule of Real Estate Properties [Table Text Block] | The ownership breakdown includes (table does not include various uncompleted development properties):
|  | Properties |  | Apartment Units
Wholly Owned Properties |  | 280 |  |  | 72,445 |
Master-Leased Properties – Consolidated |  | 3 |  |  | 853 |
Partially Owned Properties – Consolidated |  | 17 |  |  | 3,215 |
Partially Owned Properties – Unconsolidated |  | 2 |  |  | 945 |
|  | 302 |  |  | 77,458 |
Starwood Portfolio [Member] |
Disclosure of Long Lived Assets Held-for-sale [Table Text Block] | In accordance with this classification, the Company ceased depreciation on all assets in the Starwood Portfolio as of November 1, 2015 and the following assets were classified as held for sale in the accompanying consolidated balance sheets at December 31, 2015 (amounts in thousands):
|  | December 31, 2015
Land |  | $ | 602,737 |
Depreciable property: |  |
Buildings and improvements |  | 2,386,489 |
Furniture, fixtures and equipment |  | 335,565 |
In-Place lease intangibles |  | 35,554 |
Real estate held for sale before accumulated depreciation |  | 3,360,345 |
Accumulated depreciation |  | (1,179,210 | )
Real estate held for sale |  | $ | 2,181,135 |
Schedule of Real Estate Properties [Table Text Block] | The following table provides the operating segments/locations of the properties and apartment units sold in the Starwood Transaction, which represents substantially all of the assets in the Company's South Florida and Denver markets and certain assets in the Washington D.C., Seattle and Los Angeles markets. The sale of these properties represents the continuation of the Company's long-term strategy of investing in six core coastal markets. See Note 11 for further discussion.
Markets/Metro Areas |  | Properties |  | Apartment Units
South Florida |  | 33 |  |  | 10,742 |
Denver |  | 18 |  |  | 6,635 |
Washington D.C. |  | 10 |  |  | 3,020 |
Seattle |  | 8 |  |  | 1,721 |
Los Angeles |  | 3 |  |  | 1,144 |
Total |  | 72 |  |  | 23,262 |

X
- Definition Discloses properties and associated units that the Company purchased from unaffiliated parties as well as purchase price. + References No definition available. + Details
Name: | eqr_AcquiredPropertiesTableTextBlockTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Discloses properties and associated units that the Company disposed of to unaffiliated parties as well as sales price. Includes both rental properties and condominium conversion properties. + References No definition available. + Details
Name: | eqr_DisposedPropertiesTableTextBlockTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the cost of land, buildings and improvements, furniture and fixtures and accumulated depreciation in aggregate for all consolidated properties owned at the balance sheet date. + References No definition available. + Details
Name: | eqr_ScheduleOfRealEstateInvestmentsAndAccumulatedDepreciationTableTextBlock
Namespace Prefix: | eqr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 + Details
Name: | us-gaap_DisclosureOfLongLivedAssetsHeldForSaleTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=eqr_StarwoodPortfolioMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |