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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III-Real Estate and Accumulated Depreciation

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ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

Overall Summary

December 31, 2024


	Properties		Apartment Units		Investment in Real Estate, Gross		Accumulated Depreciation			Investment in Real Estate, Net		Encumbrances (1)
Wholly Owned Unencumbered		262		72,108	$	26,060,716,604	$	(8,995,415,392	)	$	17,065,301,212	$	—
Wholly Owned Encumbered		33		8,223		3,137,623,911		(1,145,441,380	)		1,992,182,531		1,602,386,003
Wholly Owned Properties		295		80,331		29,198,340,515		(10,140,856,772	)		19,057,483,743		1,602,386,003
Partially Owned Unencumbered		11		2,388		736,698,865		(248,342,763	)		488,356,102		—
Partially Owned Encumbered		1		268		35,752,011		(23,263,607	)		12,488,404		28,303,802
Partially Owned Properties		12		2,656		772,450,876		(271,606,370	)		500,844,506		28,303,802
Total Unencumbered Properties		273		74,496		26,797,415,469		(9,243,758,155	)		17,553,657,314		—
Total Encumbered Properties		34		8,491		3,173,375,922		(1,168,704,987	)		2,004,670,935		1,630,689,805
Total Consolidated Investment in Real Estate		307		82,987	$	29,970,791,391	$	(10,412,463,142	)	$	19,558,328,249	$	1,630,689,805

(1)

See attached Encumbrances Reconciliation.

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ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

Encumbrances Reconciliation

December 31, 2024


Portfolio/Entity Encumbrances	Number of Properties Encumbered by		See Properties With Note:	Amount
Archstone Master Property Holdings LLC		8	H	$	547,116,704
Portfolio/Entity Encumbrances		8			547,116,704
Individual Property Encumbrances					1,083,573,101
Total Encumbrances per Financial Statements				$	1,630,689,805

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Schedule III – Real Estate and Accumulated Depreciation

(Amounts in thousands)

The changes in total real estate for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024			2023			2022
Balance, beginning of year	$	28,712,638		$	28,088,754		$	28,272,906
Acquisitions and development		1,717,217			500,221			214,903
Improvements		304,200			321,082			225,136
Dispositions and other		(763,264	)		(197,419	)		(624,191	)
Balance, end of year	$	29,970,791		$	28,712,638		$	28,088,754

The changes in accumulated depreciation for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024			2023			2022
Balance, beginning of year	$	9,810,337		$	9,027,850		$	8,354,282
Depreciation		952,191			888,709			882,168
Dispositions and other		(350,065	)		(106,222	)		(208,600	)
Balance, end of year	$	10,412,463		$	9,810,337		$	9,027,850

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Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description							Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction	Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Wholly Owned Unencumbered:
100 K Apartments (fka 100K Street)	Washington, D.C.		—	2018		222	$	15,600,000	$	70,296,069	$	627,994	$	15,600,000	$	70,924,063	$	86,524,063	$	(17,822,446	)	$	68,701,617	$	—
170 Amsterdam	New York, NY	G		2015		236		—		112,096,955		1,367,221		—		113,464,176		113,464,176		(43,049,429	)		70,414,747		—
175 Kent	Brooklyn, NY	G		2011		113		22,037,831		53,962,169		3,082,404		22,037,831		57,044,573		79,082,404		(28,045,068	)		51,037,336		—
180 Montague (fka Brooklyn Heights)	Brooklyn, NY	G		2000		193		32,400,000		92,675,228		6,655,948		32,400,000		99,331,176		131,731,176		(44,741,960	)		86,989,216		—
180 Riverside Boulevard	New York, NY	G		1998		516		144,968,250		138,346,681		23,943,297		144,968,250		162,289,978		307,258,228		(108,359,879	)		198,898,349		—
1210 Mass	Washington, D.C.	G		2004		144		9,213,513		36,559,189		6,439,066		9,213,513		42,998,255		52,211,768		(27,955,324	)		24,256,444		—
1401 Joyce on Pentagon Row	Arlington, VA		—	2004		326		9,780,000		89,668,165		10,408,727		9,780,000		100,076,892		109,856,892		(55,775,349	)		54,081,543		—
1500 Mass Ave	Washington, D.C.	G		1951		564		54,638,298		40,361,702		19,738,260		54,638,298		60,099,962		114,738,260		(39,473,302	)		75,264,958		—
1800 Oak (fka Rosslyn)	Arlington, VA	G		2003		314		31,400,000		109,005,734		14,903,927		31,400,000		123,909,661		155,309,661		(56,682,750	)		98,626,911		—
2201 Pershing Drive	Arlington, VA	G		2012		188		11,321,198		49,674,175		3,806,432		11,321,198		53,480,607		64,801,805		(24,968,240	)		39,833,565		—
2201 Wilson	Arlington, VA	G		2000		219		21,900,000		78,724,663		10,412,238		21,900,000		89,136,901		111,036,901		(39,415,588	)		71,621,313		—
2400 M St	Washington, D.C.	G		2006		359		30,006,593		114,013,785		6,481,056		30,006,593		120,494,841		150,501,434		(77,893,669	)		72,607,765		—
2501 Porter	Washington, D.C.		—	1988		202		13,000,000		75,271,179		9,011,187		13,000,000		84,282,366		97,282,366		(39,924,592	)		57,357,774		—
315 on A	Boston, MA	G		2013		202		14,450,070		115,824,930		2,957,010		14,450,070		118,781,940		133,232,010		(44,372,786	)		88,859,224		—
340 Fremont (fka Rincon Hill)	San Francisco, CA		—	2016		348		42,000,000		248,607,902		2,068,617		42,000,000		250,676,519		292,676,519		(81,954,131	)		210,722,388		—
341 Nevins	Brooklyn, NY		—	(F)		—		3,621,717		308,661		—		3,621,717		308,661		3,930,378		—			3,930,378		—
3003 Van Ness (fka Van Ness)	Washington, D.C.		—	1970		625		56,300,000		141,191,580		15,993,278		56,300,000		157,184,858		213,484,858		(71,185,587	)		142,299,271		—
425 Broadway	Santa Monica, CA	G		2001		101		12,600,000		34,394,772		4,481,987		12,600,000		38,876,759		51,476,759		(18,329,413	)		33,147,346		—
425 Mass	Washington, D.C.	G		2009		559		28,150,000		138,600,000		13,657,653		28,150,000		152,257,653		180,407,653		(79,337,182	)		101,070,471		—
455 Eye Street	Washington, D.C.	G		2017		174		11,941,407		61,418,689		610,012		11,941,407		62,028,701		73,970,108		(18,424,614	)		55,545,494		—
4th and Hill	Los Angeles, CA		—	(F)		—		13,131,456		1,868,544		—		13,131,456		1,868,544		15,000,000		—			15,000,000		—
55 West Fifth I & II (fka Townhouse Plaza and Gardens)	San Mateo, CA		—	1964/1972		241		21,041,710		71,931,323		20,283,614		21,041,710		92,214,937		113,256,647		(47,267,978	)		65,988,669		—
600 Washington	New York, NY	G		2004		135		32,852,000		43,140,551		5,072,853		32,852,000		48,213,404		81,065,404		(30,924,462	)		50,140,942		—
660 Washington (fka Boston Common)	Boston, MA	G		2006		420		106,100,000		166,311,679		22,672,070		106,100,000		188,983,749		295,083,749		(80,772,468	)		214,311,281		—
70 Greene	Jersey City, NJ	G		2010		480		28,108,899		236,763,553		9,574,610		28,108,899		246,338,163		274,447,062		(123,961,737	)		150,485,325		—
71 Broadway	New York, NY	G		1997		238		22,611,600		77,492,171		22,717,412		22,611,600		100,209,583		122,821,183		(72,000,593	)		50,820,590		—
77 Bluxome	San Francisco, CA		—	2007		102		5,249,124		18,609,876		855,764		5,249,124		19,465,640		24,714,764		(9,461,250	)		15,253,514		—
77 Park Avenue (fka Hoboken)	Hoboken, NJ	G		2000		301		27,900,000		168,992,440		12,564,427		27,900,000		181,556,867		209,456,867		(80,555,800	)		128,901,067		—
777 Sixth	New York, NY	G		2002		294		65,352,706		65,747,294		11,645,774		65,352,706		77,393,068		142,745,774		(43,457,096	)		99,288,678		—
855 Brannan	San Francisco, CA	G		2018		449		41,363,921		282,730,067		2,130,197		41,363,921		284,860,264		326,224,185		(80,192,969	)		246,031,216		—
929 Mass (fka 929 House)	Cambridge, MA	G		1975		127		3,252,993		21,745,595		10,092,794		3,252,993		31,838,389		35,091,382		(26,006,815	)		9,084,567		—
Academy Village	North Hollywood, CA		—	1989		248		25,000,000		23,593,194		16,291,180		25,000,000		39,884,374		64,884,374		(26,975,025	)		37,909,349		—
Acappella	Pasadena, CA		—	2002		143		5,839,548		29,360,452		2,982,614		5,839,548		32,343,066		38,182,614		(17,814,023	)		20,368,591		—
Aero Apartments	Alameda, CA	G		2021		200		13,107,242		100,584,289		138,538		13,107,242		100,722,827		113,830,069		(15,046,320	)		98,783,749		—
Alban Towers	Washington, D.C.		—	1934		229		18,900,000		89,794,201		8,515,225		18,900,000		98,309,426		117,209,426		(43,813,456	)		73,395,970		—
Alborada	Fremont, CA		—	1999		442		24,310,000		59,214,129		11,943,477		24,310,000		71,157,606		95,467,606		(58,315,018	)		37,152,588		—
Alcott Apartments (fka West End Tower)	Boston, MA	G		2021		470		10,424,000		398,075,512		1,334,606		10,424,000		399,410,118		409,834,118		(49,143,736	)		360,690,382		—
Alcyone	Seattle, WA	G		2004		162		11,379,497		49,360,503		3,159,670		11,379,497		52,520,173		63,899,670		(20,707,957	)		43,191,713		—
Altitude (fka Village at Howard Hughes, The (Lots 1 & 2))	Los Angeles, CA		—	2016		545		43,783,485		150,234,305		2,353,076		43,783,485		152,587,381		196,370,866		(51,608,217	)		144,762,649		—
Alton, The (fka Millikan)	Irvine, CA		—	2017		344		11,049,027		96,523,927		970,764		11,049,027		97,494,691		108,543,718		(31,339,356	)		77,204,362		—
Arbor Terrace	Sunnyvale, CA		—	1979		177		9,057,300		18,483,642		13,305,770		9,057,300		31,789,412		40,846,712		(26,091,131	)		14,755,581		—
Arbour Square	Westminster, CO		—	2012		300		10,072,375		84,691,084		198,088		10,072,375		84,889,172		94,961,547		(2,629,167	)		92,332,380		—
Arches, The	Sunnyvale, CA		—	1974		410		26,650,000		62,850,000		24,315,290		26,650,000		87,165,290		113,815,290		(38,618,955	)		75,196,335		—

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description							Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction	Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Artisan on Second	Los Angeles, CA		—	2008		118		8,000,400		36,074,600		4,736,138		8,000,400		40,810,738		48,811,138		(19,475,131	)		29,336,007		—
Artistry Emeryville (fka Emeryville)	Emeryville, CA		—	1994		267		12,300,000		61,466,267		10,878,111		12,300,000		72,344,378		84,644,378		(35,238,629	)		49,405,749		—
Atelier	Brooklyn, NY	G		2015		120		32,401,680		47,135,432		1,208,984		32,401,680		48,344,416		80,746,096		(17,577,731	)		63,168,365		—
Aventine Littleton	Highlands Ranch, CO		—	2024		227		8,486,099		83,049,404		871		8,486,099		83,050,275		91,536,374		(787,499	)		90,748,875		—
Axis at Shady Grove	Rockville, MD		—	2016		366		14,745,774		90,503,831		1,141,565		14,745,774		91,645,396		106,391,170		(27,939,694	)		78,451,476		—
Ayla Stonebriar	Frisco, TX		—	2022		289		7,674,733		68,474,638		84,483		7,674,733		68,559,121		76,233,854		(3,144,256	)		73,089,598		—
Azure (fka Mission Bay-Block 13)	San Francisco, CA		—	2015		273		32,855,115		153,333,734		2,405,041		32,855,115		155,738,775		188,593,890		(54,676,637	)		133,917,253		—
Bay Hill	Long Beach, CA		—	2002		160		7,600,000		27,437,239		5,449,954		7,600,000		32,887,193		40,487,193		(23,189,303	)		17,297,890		—
Beatrice, The	New York, NY		—	2010		302		114,351,405		165,648,595		4,597,512		114,351,405		170,246,107		284,597,512		(79,174,251	)		205,423,261		—
Bella Vista I, II, III Combined	Woodland Hills, CA		—	2003-2007		579		31,682,754		121,095,786		18,903,627		31,682,754		139,999,413		171,682,167		(88,818,200	)		82,863,967		—
Belle Arts Condominium Homes, LLC	Bellevue, WA		—	2000		1		63,158		236,157		2,098		63,158		238,255		301,413		(131,985	)		169,428		—
Belle Fontaine	Marina Del Rey, CA		—	2003		102		9,098,808		28,701,192		3,714,189		9,098,808		32,415,381		41,514,189		(15,616,532	)		25,897,657		—
Bishop, The	Sandy Springs, GA	G		2019		425		15,745,431		92,472,149		260,081		15,745,431		92,732,230		108,477,661		(4,310,563	)		104,167,098		—
Breakwater at Marina Del Rey	Marina Del Rey, CA		—	1964-1969		224		—		73,189,262		3,558,680		—		76,747,942		76,747,942		(35,157,611	)		41,590,331		—
Briarwood (CA)	Sunnyvale, CA		—	1985		192		9,991,500		22,247,278		14,422,999		9,991,500		36,670,277		46,661,777		(25,356,952	)		21,304,825		—
Brodie, The	Westminster, CO		—	2016		312		8,639,904		79,257,130		2,476,608		8,639,904		81,733,738		90,373,642		(24,253,266	)		66,120,376		—
Brooklyner, The (fka 111 Lawrence)	Brooklyn, NY	G		2010		490		40,099,922		221,438,631		6,912,360		40,099,922		228,350,991		268,450,913		(109,500,931	)		158,949,982		—
C on Pico	Los Angeles, CA		—	2014		94		17,125,766		28,074,234		818,393		17,125,766		28,892,627		46,018,393		(10,539,687	)		35,478,706		—
Carlyle Mill	Alexandria, VA		—	2002		317		10,000,000		51,367,913		13,534,438		10,000,000		64,902,351		74,902,351		(47,182,660	)		27,719,691		—
Carmel Terrace	San Diego, CA		—	1988-1989		384		2,288,300		20,596,281		25,499,178		2,288,300		46,095,459		48,383,759		(35,004,298	)		13,379,461		—
Cascade	Seattle, WA	G		2017		477		23,751,564		149,406,957		2,373,368		23,751,564		151,780,325		175,531,889		(44,898,853	)		130,633,036		—
Centennial (fka Centennial Court & Centennial Tower)	Seattle, WA	G		1991/2001		408		9,700,000		70,080,378		18,234,587		9,700,000		88,314,965		98,014,965		(61,624,215	)		36,390,750		—
Centre Club Combined	Ontario, CA		—	1994 & 2002		412		7,436,000		33,014,789		13,968,006		7,436,000		46,982,795		54,418,795		(36,102,209	)		18,316,586		—
Chelsea Square	Redmond, WA		—	1991		113		3,397,100		9,289,074		3,432,782		3,397,100		12,721,856		16,118,956		(11,147,561	)		4,971,395		—
Chloe on Madison (fka 1401 E. Madison)	Seattle, WA	G		2019		137		10,401,958		53,913,565		146,803		10,401,958		54,060,368		64,462,326		(11,429,642	)		53,032,684		—
Chloe on Union (fka Chloe)	Seattle, WA	G		2010		117		14,835,571		39,359,650		3,365,998		14,835,571		42,725,648		57,561,219		(13,576,186	)		43,985,033		—
Church Corner	Cambridge, MA	G		1987		85		5,220,000		16,744,643		3,983,507		5,220,000		20,728,150		25,948,150		(14,782,486	)		11,165,664		—
Circa Fitzsimons	Denver, CO		—	2020		280		9,241,400		86,070,796		987,679		9,241,400		87,058,475		96,299,875		(15,085,497	)		81,214,378		—
City Gate at Cupertino (fka Cupertino)	Cupertino, CA		—	1998		311		40,400,000		95,937,046		9,253,509		40,400,000		105,190,555		145,590,555		(48,687,591	)		96,902,964		—
City Square Bellevue (fka Bellevue)	Bellevue, WA	G		1998		191		15,100,000		41,876,257		7,731,297		15,100,000		49,607,554		64,707,554		(22,024,588	)		42,682,966		—
Clarendon, The	Arlington, VA	G		2005		292		30,400,340		103,824,660		6,868,159		30,400,340		110,692,819		141,093,159		(54,896,760	)		86,196,399		—
Cleo, The	Los Angeles, CA		—	1989		92		6,615,467		14,829,335		5,100,977		6,615,467		19,930,312		26,545,779		(12,835,917	)		13,709,862		—
Connecticut Heights	Washington, D.C.		—	1974		518		27,600,000		114,002,295		12,897,892		27,600,000		126,900,187		154,500,187		(58,008,704	)		96,491,483		—
Courthouse Plaza	Arlington, VA	G		1990		396		—		87,386,024		10,002,015		—		97,388,039		97,388,039		(46,281,760	)		51,106,279		—
Creekside (San Mateo)	San Mateo, CA		—	1985		192		9,606,600		21,193,232		6,628,191		9,606,600		27,821,423		37,428,023		(24,029,865	)		13,398,158		—
Crest at Park Central	Dallas, TX		—	2016		387		11,340,882		58,809,330		293,390		11,340,882		59,102,720		70,443,602		(3,439,005	)		67,004,597		—
Cronins Landing	Waltham, MA	G		1998		281		32,300,000		85,119,324		17,600,133		32,300,000		102,719,457		135,019,457		(48,196,938	)		86,822,519		—
Crystal Place	Arlington, VA		—	1986		181		17,200,000		47,918,975		8,177,204		17,200,000		56,096,179		73,296,179		(25,503,647	)		47,792,532		—
Dalton, The	Alexandria, VA	G		2018		270		22,947,777		95,334,754		643,225		22,947,777		95,977,979		118,925,756		(22,087,606	)		96,838,150		—
Deerwood (SD)	San Diego, CA		—	1990		316		2,082,095		18,739,815		19,444,763		2,082,095		38,184,578		40,266,673		(35,443,578	)		4,823,095		—
Del Mar Ridge	San Diego, CA		—	1998		181		7,801,824		36,948,176		11,119,607		7,801,824		48,067,783		55,869,607		(25,384,230	)		30,485,377		—
Den, The	Denver, CO	G		2017		325		12,661,724		103,636,340		204,171		12,661,724		103,840,511		116,502,235		(2,939,956	)		113,562,279		—
Eagle Canyon	Chino Hills, CA		—	1985		252		1,808,900		16,274,361		14,748,935		1,808,900		31,023,296		32,832,196		(26,742,415	)		6,089,781		—
Edge, The (fka 4885 Edgemoor Lane)	Bethesda, MD		—	2021		154		—		72,796,939		65,946		—		72,862,885		72,862,885		(10,466,306	)		62,396,579		—

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description							Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction	Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Edgemont at Bethesda Metro	Bethesda, MD		—	1989		123		13,092,552		43,907,448		6,161,174		13,092,552		50,068,622		63,161,174		(24,262,080	)		38,899,094		—
Emerson Place	Boston, MA	G		1962		444		14,855,000		57,566,636		40,288,465		14,855,000		97,855,101		112,710,101		(84,466,394	)		28,243,707		—
Encore at Sherman Oaks, The	Sherman Oaks, CA		—	1988		174		8,700,000		25,446,003		6,159,156		8,700,000		31,605,159		40,305,159		(16,701,782	)		23,603,377		—
Estancia at Santa Clara (fka Santa Clara)	Santa Clara, CA		—	2000		450		—		123,759,804		12,176,110		—		135,935,914		135,935,914		(59,130,887	)		76,805,027		—
Eviva on Cherokee	Denver, CO		—	2017		274		10,507,626		100,037,204		2,848,513		10,507,626		102,885,717		113,393,343		(27,019,110	)		86,374,233		—
Flora	Austin, TX		—	2019		194		5,733,088		32,343,349		1,250,616		5,733,088		33,593,965		39,327,053		(8,095,151	)		31,231,902		—
Fremont Center	Fremont, CA	G		2002		322		25,800,000		78,753,114		13,661,396		25,800,000		92,414,510		118,214,510		(40,652,050	)		77,562,460		—
Gaithersburg Station	Gaithersburg, MD	G		2013		400		17,500,000		74,678,917		7,691,420		17,500,000		82,370,337		99,870,337		(35,632,776	)		64,237,561		—
Gateway at Malden Center	Malden, MA	G		1988		203		9,209,780		25,722,666		20,343,033		9,209,780		46,065,699		55,275,479		(35,826,201	)		19,449,278		—
Girard	Boston, MA	G		2016		160		—		102,450,328		1,531,330		—		103,981,658		103,981,658		(29,871,615	)		74,110,043		—
Hampshire Place	Los Angeles, CA		—	1989		259		10,806,000		30,335,330		13,731,398		10,806,000		44,066,728		54,872,728		(29,000,237	)		25,872,491		—
Harbor Steps	Seattle, WA	G		2000		761		59,403,601		158,829,432		68,263,473		59,403,601		227,092,905		286,496,506		(144,638,194	)		141,858,312		—
Hathaway	Long Beach, CA		—	1987		385		2,512,500		22,611,912		17,989,143		2,512,500		40,601,055		43,113,555		(35,125,691	)		7,987,864		—
Helios (fka 2nd+Pine)	Seattle, WA	G		2017		398		18,061,674		206,762,591		1,612,412		18,061,674		208,375,003		226,436,677		(61,522,435	)		164,914,242		—
Helix Apartments	Weymouth, MA	G		2023		160		6,592,480		56,165,407		239,690		6,592,480		56,405,097		62,997,577		(2,645,271	)		60,352,306		—
Heritage at Stone Ridge	Burlington, MA		—	2005		180		10,800,000		31,808,335		8,253,204		10,800,000		40,061,539		50,861,539		(24,738,949	)		26,122,590		—
Heritage Ridge	Lynwood, WA		—	1999		197		6,895,000		18,983,597		6,252,196		6,895,000		25,235,793		32,130,793		(17,082,975	)		15,047,818		—
Hesby	North Hollywood, CA		—	2013		308		23,299,892		102,700,108		4,210,207		23,299,892		106,910,315		130,210,207		(42,734,637	)		87,475,570		—
Highlands at South Plainfield	South Plainfield, NJ		—	2000		252		10,080,000		37,526,912		4,510,884		10,080,000		42,037,796		52,117,796		(27,797,877	)		24,319,919		—
Hikari	Los Angeles, CA	G		2007		128		9,435,760		32,564,240		3,270,446		9,435,760		35,834,686		45,270,446		(17,467,531	)		27,802,915		—
Hudson Crossing	New York, NY	G		2003		259		23,420,000		69,977,699		7,833,359		23,420,000		77,811,058		101,231,058		(51,636,566	)		49,594,492		—
Hudson Point	Jersey City, NJ	G		2003		182		5,350,000		41,114,074		9,663,448		5,350,000		50,777,522		56,127,522		(36,050,691	)		20,076,831		—
Huxley, The	Redwood City, CA		—	2018		137		18,775,028		89,336,651		779,080		18,775,028		90,115,731		108,890,759		(20,088,951	)		88,801,808		—
Indie Deep Ellum	Dallas, TX	G		2020		231		12,253,503		63,853,833		1,324,924		12,253,503		65,178,757		77,432,260		(11,724,325	)		65,707,935		—
Iris O4W	Atlanta, GA	G		2023		320		20,663,801		105,762,510		87,400		20,663,801		105,849,910		126,513,711		(5,391,374	)		121,122,337		—
Ivory Wood	Bothell, WA		—	2000		144		2,732,800		13,888,282		6,907,845		2,732,800		20,796,127		23,528,927		(12,447,855	)		11,081,072		—
Jia (fka Chinatown Gateway)	Los Angeles, CA	G		2014		280		14,791,831		78,286,423		3,187,386		14,791,831		81,473,809		96,265,640		(36,024,718	)		60,240,922		—
Junction 47 (fka West Seattle)	Seattle, WA	G		2015		206		11,726,305		56,581,665		1,238,874		11,726,305		57,820,539		69,546,844		(21,867,443	)		47,679,401		—
Juniper Sandy Springs	Sandy Springs, GA		—	2017		230		8,668,700		64,989,813		1,048,876		8,668,700		66,038,689		74,707,389		(12,381,430	)		62,325,959		—
Kelvin, The (fka Modera)	Irvine, CA		—	2015		194		15,521,552		64,853,448		1,941,324		15,521,552		66,794,772		82,316,324		(25,417,758	)		56,898,566		—
Kia Ora Park	Plano, TX		—	2007		250		7,040,930		56,605,865		422,555		7,040,930		57,028,420		64,069,350		(2,750,760	)		61,318,590		—
Kilby	Frisco, TX		—	2020		258		6,431,940		64,187,474		1,286,004		6,431,940		65,473,478		71,905,418		(12,149,395	)		59,756,023		—
Landings at Port Imperial	W. New York, NJ		—	1999		276		27,246,045		37,741,050		18,746,774		27,246,045		56,487,824		83,733,869		(44,596,858	)		39,137,011		—
Lane	Seattle, WA	G		2019		217		13,142,946		71,942,751		644,249		13,142,946		72,587,000		85,729,946		(16,151,778	)		69,578,168		—
Lex, The	San Jose, CA		—	2017		387		21,817,512		158,778,598		3,032,983		21,817,512		161,811,581		183,629,093		(39,828,517	)		143,800,576		—
Liberty Park	Braintree, MA		—	2000		202		5,977,504		26,749,111		10,038,549		5,977,504		36,787,660		42,765,164		(27,291,059	)		15,474,105		—
Liberty Tower	Arlington, VA	G		2008		235		16,382,822		83,817,078		10,837,071		16,382,822		94,654,149		111,036,971		(48,905,180	)		62,131,791		—
Lincoln Heights	Quincy, MA		—	1991		336		5,928,400		33,595,262		18,008,499		5,928,400		51,603,761		57,532,161		(45,980,745	)		11,551,416		—
Lofts at Kendall Square (fka Kendall Square)	Cambridge, MA		—	1998		186		18,696,674		78,445,657		9,192,241		18,696,674		87,637,898		106,334,572		(40,718,870	)		65,615,702		—
Lofts at Kendall Square ll (fka 249 Third Street)	Cambridge, MA	G		2019		84		4,603,326		44,187,266		589,775		4,603,326		44,777,041		49,380,367		(9,253,629	)		40,126,738		—
Longacre House	New York, NY	G		2000		293		73,170,045		53,962,510		10,408,276		73,170,045		64,370,786		137,540,831		(37,059,900	)		100,480,931		—
Longfellow Place	Boston, MA	G		1975		710		38,264,917		132,175,915		114,454,890		38,264,917		246,630,805		284,895,722		(201,138,635	)		83,757,087		—
Lorien (fka Laguna Clara II)	Santa Clara, CA		—	(F)		—		3,200,426		137,738,522		—		3,200,426		137,738,522		140,938,948		—			140,938,948		—
Lorien Ivy (fka Laguna Clara)	Santa Clara, CA		—	1972		222		10,441,994		22,572,843		44,425,099		10,441,994		66,997,942		77,439,936		(28,838,462	)		48,601,474		—

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description							Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction	Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Luna Upper Westside	Atlanta, GA		—	2020		345		14,847,420		108,325,394		1,280,201		14,847,420		109,605,595		124,453,015		(17,841,260	)		106,611,755		—
Lyric Sugar Hill	Sugar Hill, GA		—	2023		294		7,150,971		78,240,138		18,160		7,150,971		78,258,298		85,409,269		(905,424	)		84,503,845		—
Madox	Jersey City, NJ	G		2013		131		9,679,635		64,594,205		2,233,937		9,679,635		66,828,142		76,507,777		(17,666,502	)		58,841,275		—
Mantena	New York, NY	G		2012		98		22,346,513		61,501,158		2,380,301		22,346,513		63,881,459		86,227,972		(28,686,989	)		57,540,983		—
Mara Pacific Beach	San Diego, CA	G		2020		172		25,360,682		87,755,429		2,954,498		25,360,682		90,709,927		116,070,609		(12,811,205	)		103,259,404		—
Marina 41 (fka Marina Del Rey)	Marina Del Rey, CA		—	1973		623		—		168,842,442		13,517,780		—		182,360,222		182,360,222		(84,683,461	)		97,676,761		—
Mariposa at Playa Del Rey (fka Playa Del Rey)	Playa Del Rey, CA		—	2004		354		60,900,000		89,311,482		17,334,549		60,900,000		106,646,031		167,546,031		(46,730,483	)		120,815,548		—
Milano Lofts	Los Angeles, CA	G		1925/2006		99		8,125,216		27,378,784		5,641,503		8,125,216		33,020,287		41,145,503		(16,078,063	)		25,067,440		—
Milehouse	Denver, CO	G		2015		353		13,511,360		111,154,511		188,027		13,511,360		111,342,538		124,853,898		(3,239,232	)		121,614,666		—
Mill Creek	Milpitas, CA		—	1991		516		12,858,693		57,168,503		20,951,957		12,858,693		78,120,460		90,979,153		(57,368,649	)		33,610,504		—
Milo	Denver, CO		—	2020		319		15,957,975		153,331,358		1,974,617		15,957,975		155,305,975		171,263,950		(21,793,704	)		149,470,246		—
Mosaic at Metro	Hyattsville, MD		—	2008		262		—		59,580,898		2,776,443		—		62,357,341		62,357,341		(34,287,468	)		28,069,873		—
Mountain View Redevelopment	Mountain View, CA		—	(F)		—		—		2,677,902		—		—		2,677,902		2,677,902		—			2,677,902		—
Mozaic at Union Station	Los Angeles, CA		—	2007		272		8,500,000		52,529,446		6,440,024		8,500,000		58,969,470		67,469,470		(35,914,649	)		31,554,821		—
Murray Hill Tower (fka Murray Hill)	New York, NY	G		1974		270		75,800,000		102,705,401		17,107,094		75,800,000		119,812,495		195,612,495		(57,576,757	)		138,035,738		—
Next on Sixth	Los Angeles, CA	G		2017		398		52,509,906		136,635,650		1,600,079		52,509,906		138,235,729		190,745,635		(35,209,518	)		155,536,117		—
North Pier at Harborside	Jersey City, NJ		—	2003		297		4,000,159		94,290,590		15,892,159		4,000,159		110,182,749		114,182,908		(73,837,897	)		40,345,011		—
Northglen	Valencia, CA		—	1988		234		9,360,000		20,778,553		9,000,176		9,360,000		29,778,729		39,138,729		(22,985,880	)		16,152,849		—
Northpark	Burlingame, CA		—	1972		510		38,607,000		77,472,217		28,637,599		38,607,000		106,109,816		144,716,816		(58,051,768	)		86,665,048		—
Oak Park Combined	Agoura Hills, CA		—	1989 & 1990		444		3,390,700		30,517,274		14,182,912		3,390,700		44,700,186		48,090,886		(41,526,668	)		6,564,218		—
Oaks	Santa Clarita, CA		—	2000		520		23,400,000		61,020,438		21,301,558		23,400,000		82,321,996		105,721,996		(53,812,640	)		51,909,356		—
Ocean Crest	Solana Beach, CA		—	1986		146		5,111,200		11,910,438		6,012,813		5,111,200		17,923,251		23,034,451		(15,450,081	)		7,584,370		—
Odin (fka Tallman)	Seattle, WA		—	2015		301		16,807,519		64,519,515		1,048,172		16,807,519		65,567,687		82,375,206		(24,364,634	)		58,010,572		—
Olivian at the Realm	Lewisville, TX		—	2021		421		14,854,564		109,313,571		1,557,136		14,854,564		110,870,707		125,725,271		(17,198,164	)		108,527,107		—
One Henry Adams	San Francisco, CA	G		2016		241		30,224,393		139,704,146		1,477,330		30,224,393		141,181,476		171,405,869		(45,340,953	)		126,064,916		—
Osprey	Atlanta, GA	G		2020		320		18,121,932		116,950,910		1,054,517		18,121,932		118,005,427		136,127,359		(18,542,398	)		117,584,961		—
Pacific Place	Los Angeles, CA		—	2008		430		32,250,000		110,750,000		13,665,179		32,250,000		124,415,179		156,665,179		(50,954,026	)		105,711,153		—
Packard Building	Seattle, WA	G		2010		61		5,911,041		19,954,959		1,607,545		5,911,041		21,562,504		27,473,545		(8,015,095	)		19,458,450		—
Parc 77	New York, NY	G		1903		137		40,504,000		18,025,679		8,180,253		40,504,000		26,205,932		66,709,932		(18,397,284	)		48,312,648		—
Parc Cameron	New York, NY	G		1927		166		37,600,000		9,855,597		8,887,013		37,600,000		18,742,610		56,342,610		(14,411,317	)		41,931,293		—
Parc Coliseum	New York, NY	G		1910		177		52,654,000		23,045,751		11,028,103		52,654,000		34,073,854		86,727,854		(24,395,020	)		62,332,834		—
Parc East Towers	New York, NY	G		1977		324		102,163,000		108,989,402		16,972,442		102,163,000		125,961,844		228,124,844		(78,720,690	)		149,404,154		—
Parc on Powell (fka Parkside at Emeryville)	Emeryville, CA	G		2015		173		16,667,059		65,473,337		3,699,491		16,667,059		69,172,828		85,839,887		(25,839,058	)		60,000,829		—
Park Connecticut	Washington, D.C.		—	2000		142		13,700,000		59,087,519		6,870,405		13,700,000		65,957,924		79,657,924		(28,176,709	)		51,481,215		—
Park West (CA)	Los Angeles, CA		—	1987/1990		444		3,033,500		27,302,383		16,924,077		3,033,500		44,226,460		47,259,960		(39,652,427	)		7,607,533		—
Parkside	Union City, CA		—	1979		208		6,246,700		11,827,453		9,297,068		6,246,700		21,124,521		27,371,221		(17,841,159	)		9,530,062		—
Pearl, The (WA)	Seattle, WA	G		2008		80		6,972,585		26,527,415		1,550,194		6,972,585		28,077,609		35,050,194		(10,849,047	)		24,201,147		—
Pearl MDR (fka Oakwood Marina Del Rey)	Marina Del Rey, CA	G		1969		597		—		120,795,359		36,892,605		—		157,687,964		157,687,964		(65,983,790	)		91,704,174		—
Pegasus	Los Angeles, CA	G		1949/2003		322		18,094,052		81,905,948		12,836,707		18,094,052		94,742,655		112,836,707		(49,546,073	)		63,290,634		—
Penman, The	Atlanta, GA	G		2023		262		9,942,043		68,921,901		860,554		9,942,043		69,782,455		79,724,498		(6,323,549	)		73,400,949		—
Portofino	Chino Hills, CA		—	1989		176		3,572,400		14,660,994		6,120,719		3,572,400		20,781,713		24,354,113		(17,633,658	)		6,720,455		—
Portofino (Val)	Valencia, CA		—	1989		216		8,640,000		21,487,126		8,202,123		8,640,000		29,689,249		38,329,249		(23,253,694	)		15,075,555		—
Portside Towers	Jersey City, NJ	G		1992-1997		527		22,487,006		96,842,913		33,103,285		22,487,006		129,946,198		152,433,204		(113,270,039	)		39,163,165		—
Potrero 1010	San Francisco, CA	G		2016		453		40,830,011		181,924,463		3,159,833		40,830,011		185,084,296		225,914,307		(64,071,470	)		161,842,837		—

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description							Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction	Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Prado (fka Glendale)	Glendale, CA		—	1988		264		—		67,977,313		8,178,867		—		76,156,180		76,156,180		(35,098,842	)		41,057,338		—
Prime, The	Arlington, VA		—	2002		281		34,625,000		77,879,740		13,367,582		34,625,000		91,247,322		125,872,322		(49,221,249	)		76,651,073		—
Prism at Park Avenue South (fka 400 Park Avenue South)	New York, NY	G		2015		269		76,292,169		171,812,112		840,595		76,292,169		172,652,707		248,944,876		(65,677,740	)		183,267,136		—
Promenade at Town Center I & II	Valencia, CA		—	2001		564		28,200,000		69,795,915		20,655,523		28,200,000		90,451,438		118,651,438		(61,874,920	)		56,776,518		—
Providence	Bothell, WA		—	2000		200		3,573,621		19,055,505		7,347,637		3,573,621		26,403,142		29,976,763		(17,862,487	)		12,114,276		—
Quarry Hills	Quincy, MA		—	2006		316		26,900,000		84,411,162		8,909,242		26,900,000		93,320,404		120,220,404		(42,235,358	)		77,985,046		—
Radiant Fairfax Ridge	Fairfax, VA		—	2016		213		7,352,547		63,018,744		1,170,039		7,352,547		64,188,783		71,541,330		(12,292,324	)		59,249,006		—
Radius Uptown	Denver, CO		—	2017		372		13,644,960		121,899,084		2,953,824		13,644,960		124,852,908		138,497,868		(35,316,070	)		103,181,798		—
Redmond Court	Bellevue, WA		—	1977		206		10,300,000		33,488,745		6,607,166		10,300,000		40,095,911		50,395,911		(18,450,539	)		31,945,372		—
Reserve at Burlington, The	Burlington, MA		—	2019		270		20,250,000		114,476,933		2,243,718		20,250,000		116,720,651		136,970,651		(19,437,981	)		117,532,670		—
Reserve at Clarendon Centre, The	Arlington, VA	G		2003		252		10,500,000		52,812,935		9,611,626		10,500,000		62,424,561		72,924,561		(43,531,608	)		29,392,953		—
Reserve at Eisenhower, The	Alexandria, VA		—	2002		226		6,500,000		34,585,059		6,790,496		6,500,000		41,375,555		47,875,555		(30,337,242	)		17,538,313		—
Reserve at Empire Lakes	Rancho Cucamonga, CA		—	2005		467		16,345,000		73,080,670		16,468,702		16,345,000		89,549,372		105,894,372		(55,055,730	)		50,838,642		—
Reserve at Fairfax Corner	Fairfax, VA		—	2001		652		15,804,057		63,129,050		17,047,229		15,804,057		80,176,279		95,980,336		(60,469,121	)		35,511,215		—
Reserve at Mountain View (fka Mountain View)	Mountain View, CA		—	1965		180		27,000,000		33,029,605		11,167,784		27,000,000		44,197,389		71,197,389		(22,255,197	)		48,942,192		—
Reserve at Potomac Yard	Alexandria, VA		—	2002		588		11,918,917		68,862,641		24,131,797		11,918,917		92,994,438		104,913,355		(65,616,630	)		39,296,725		—
Reserve at Town Center I-III (WA)	Mill Creek, WA	G		2001, 2009, 2014		584		16,768,705		77,623,664		15,529,051		16,768,705		93,152,715		109,921,420		(54,632,585	)		55,288,835		—
Reverb (fka 9th and W)	Washington, D.C.	G		2023		312		—		104,834,400		47,973		—		104,882,373		104,882,373		(7,293,212	)		97,589,161		—
Rianna I & II	Seattle, WA	G		2000/2002		156		4,430,000		29,298,096		5,608,591		4,430,000		34,906,687		39,336,687		(18,430,847	)		20,905,840		—
Richmond Row	Suwanee, GA		—	2023		344		10,030,008		88,345,634		292,493		10,030,008		88,638,127		98,668,135		(8,122,228	)		90,545,907		—
Ridgewood Village I&II	San Diego, CA		—	1997		408		11,809,500		34,004,048		9,220,363		11,809,500		43,224,411		55,033,911		(35,825,485	)		19,208,426		—
Riva Terra I (fka Redwood Shores)	Redwood City, CA		—	1986		304		34,963,355		84,587,658		12,113,882		34,963,355		96,701,540		131,664,895		(45,814,764	)		85,850,131		—
Riva Terra II (fka Harborside)	Redwood City, CA		—	1986		149		17,136,645		40,536,531		5,617,618		17,136,645		46,154,149		63,290,794		(20,963,384	)		42,327,410		—
Rivington, The	Hoboken, NJ		—	1999		240		34,340,640		112,112,152		6,579,399		34,340,640		118,691,551		153,032,191		(34,234,569	)		118,797,622		—
Rivington II, The	Hoboken, NJ		—	(F)		—		—		882,999		—		—		882,999		882,999		—			882,999		—
Rosecliff II	Quincy, MA		—	2005		130		4,922,840		30,202,160		4,731,123		4,922,840		34,933,283		39,856,123		(17,016,924	)		22,839,199		—
Sakura Crossing	Los Angeles, CA	G		2009		230		14,641,990		42,858,010		2,742,163		14,641,990		45,600,173		60,242,163		(23,333,605	)		36,908,558		—
Savanna Nine Mile	Erie, CO		—	2022		287		9,386,048		98,792,001		456,465		9,386,048		99,248,466		108,634,514		(10,144,496	)		98,490,018		—
Saxton	Seattle, WA	G		2019		325		38,805,400		128,652,023		1,104,035		38,805,400		129,756,058		168,561,458		(29,504,458	)		139,057,000		—
Sheffield Court	Arlington, VA		—	1986		597		3,342,381		31,337,332		30,553,290		3,342,381		61,890,622		65,233,003		(51,822,110	)		13,410,893		—
Siena Terrace	Lake Forest, CA		—	1988		356		8,900,000		24,083,024		10,752,328		8,900,000		34,835,352		43,735,352		(29,403,293	)		14,332,059		—
Sixes Ridge	Holly Springs, GA		—	2019		340		7,959,831		78,245,386		126,506		7,959,831		78,371,892		86,331,723		(3,674,199	)		82,657,524		—
Skycrest	Valencia, CA		—	1999		264		10,560,000		25,574,457		7,516,117		10,560,000		33,090,574		43,650,574		(26,345,339	)		17,305,235		—
Skyhouse South	Atlanta, GA	G		2014		320		14,182,277		101,911,477		1,749,357		14,182,277		103,660,834		117,843,111		(19,301,723	)		98,541,388		—
Skylark	Union City, CA		—	1986		174		1,781,600		16,731,916		6,619,820		1,781,600		23,351,736		25,133,336		(20,269,877	)		4,863,459		—
Skyview	Rancho Santa Margarita, CA		—	1999		260		3,380,000		21,952,863		8,164,469		3,380,000		30,117,332		33,497,332		(25,203,554	)		8,293,778		—
SoMa II	San Francisco, CA		—	(F)		—		29,406,606		5,947,247		—		29,406,606		5,947,247		35,353,853		—			35,353,853		—
Sonterra at Foothill Ranch	Foothill Ranch, CA		—	1997		300		7,503,400		24,048,507		7,686,501		7,503,400		31,735,008		39,238,408		(27,744,166	)		11,494,242		—
South City Station (fka South San Francisco)	San Francisco, CA	G		2007		368		68,900,000		79,476,861		13,417,106		68,900,000		92,893,967		161,793,967		(41,097,113	)		120,696,854		—
Springline	Seattle, WA	G		2016		136		9,163,667		47,910,981		1,060,398		9,163,667		48,971,379		58,135,046		(15,634,169	)		42,500,877		—
Square One	Seattle, WA		—	2014		112		7,222,544		26,277,456		695,695		7,222,544		26,973,151		34,195,695		(10,689,404	)		23,506,291		—
Station 92	Woodstock, GA		—	2015		272		7,132,150		66,564,114		94,608		7,132,150		66,658,722		73,790,872		(2,969,550	)		70,821,322		—
Stillhouse Vinings	Atlanta, GA		—	2022		274		10,764,285		78,806,295		20,241		10,764,285		78,826,536		89,590,821		(1,626,928	)		87,963,893		—
STOA	Los Angeles, CA	G		2017		237		25,326,048		79,976,031		1,061,635		25,326,048		81,037,666		106,363,714		(20,981,096	)		85,382,618		—

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description								Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction		Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Ten23 (fka 500 West 23rd Street)	New York, NY	G		2011			111		—		58,881,873		1,930,350		—		60,812,223		60,812,223		(26,993,618	)		33,818,605		—
Terraces, The	San Francisco, CA	G		1975			117		14,087,610		16,314,151		3,546,231		14,087,610		19,860,382		33,947,992		(11,089,163	)		22,858,829		—
Theo	Denver, CO	G		2018			275		15,322,049		122,105,822		5,930,484		15,322,049		128,036,306		143,358,355		(20,433,643	)		122,924,712		—
Third Square	Cambridge, MA	G		2008/2009			472		26,767,171		219,668,983		17,770,687		26,767,171		237,439,670		264,206,841		(127,710,276	)		136,496,565		—
Three20	Seattle, WA	G		2013			134		7,030,766		29,005,762		1,300,575		7,030,766		30,306,337		37,337,103		(12,922,503	)		24,414,600		—
Toscana	Irvine, CA		—	1991/1993			563		39,410,000		50,806,072		30,425,228		39,410,000		81,231,300		120,641,300		(63,860,011	)		56,781,289		—
Trailwinds Grapevine	Grapevine, TX		—	2023			324		15,219,295		75,436,361		165,369		15,219,295		75,601,730		90,821,025		(4,407,500	)		86,413,525		—
Troy Boston	Boston, MA	G		2015			378		34,641,051		181,607,331		4,767,279		34,641,051		186,374,610		221,015,661		(53,005,531	)		168,010,130		—
Union at Carrollton Square	Carrollton, TX	G		2013			311		—		49,428,349		356,894		—		49,785,243		49,785,243		(2,567,013	)		47,218,230		—
Urbana (fka Market Street Landing)	Seattle, WA	G		2014			289		12,542,418		75,800,090		4,570,858		12,542,418		80,370,948		92,913,366		(34,269,846	)		58,643,520		—
Uwajimaya Village	Seattle, WA		—	2002			176		8,800,000		22,188,288		9,990,428		8,800,000		32,178,716		40,978,716		(19,464,328	)		21,514,388		—
Vantage Hollywood	Los Angeles, CA		—	1987			298		42,580,326		56,014,674		5,329,349		42,580,326		61,344,023		103,924,349		(24,658,919	)		79,265,430		—
Veloce	Redmond, WA	G		2009			322		15,322,724		76,176,594		10,732,656		15,322,724		86,909,250		102,231,974		(37,224,492	)		65,007,482		—
Venue at the Promenade	Castle Rock, CO		—	2017			312		8,355,048		83,752,689		1,401,140		8,355,048		85,153,829		93,508,877		(21,860,408	)		71,648,469		—
Verde Condominium Homes (fka Mission Verde, LLC)	San Jose, CA		—	1986			108		5,190,700		9,679,109		5,804,559		5,190,700		15,483,668		20,674,368		(13,452,328	)		7,222,040		—
Veridian (fka Silver Spring)	Silver Spring, MD	G		2009			457		18,539,817		130,407,365		7,666,152		18,539,817		138,073,517		156,613,334		(72,977,468	)		83,635,866		—
Versailles	Woodland Hills, CA		—	1991			253		12,650,000		33,656,292		12,532,385		12,650,000		46,188,677		58,838,677		(32,356,238	)		26,482,439		—
Versailles (K-Town)	Los Angeles, CA		—	2008			225		10,590,975		44,409,025		3,100,526		10,590,975		47,509,551		58,100,526		(26,215,272	)		31,885,254		—
Victor on Venice	Los Angeles, CA	G		2006			116		10,350,000		35,433,437		5,556,188		10,350,000		40,989,625		51,339,625		(24,379,748	)		26,959,877		—
View at Woodstock, The	Woodstock, GA		—	2020			320		8,745,396		78,958,962		204,122		8,745,396		79,163,084		87,908,480		(3,832,069	)		84,076,411		—
Villa Solana	Laguna Hills, CA		—	1984			272		1,665,100		14,985,677		14,598,936		1,665,100		29,584,613		31,249,713		(27,179,284	)		4,070,429		—
Village at Del Mar Heights, The (fka Del Mar Heights)	San Diego, CA		—	1986			168		15,100,000		40,859,396		5,034,037		15,100,000		45,893,433		60,993,433		(21,712,127	)		39,281,306		—
Vintage at 425 Broadway (fka Promenade)	Santa Monica, CA	G		1934/2001			60		9,000,000		13,961,523		2,372,510		9,000,000		16,334,033		25,334,033		(7,946,176	)		17,387,857		—
Virginia Square	Arlington, VA	G		2002			231		—		85,940,003		7,266,104		—		93,206,107		93,206,107		(42,981,254	)		50,224,853		—
Vista 99 (fka Tasman)	San Jose, CA		—	2016			554		27,709,329		177,347,508		4,696,702		27,709,329		182,044,210		209,753,539		(63,517,339	)		146,236,200		—
Vista Del Lago	Mission Viejo, CA		—	1986-1988			608		4,525,800		40,736,293		34,078,285		4,525,800		74,814,578		79,340,378		(61,847,607	)		17,492,771		—
Walden Park	Cambridge, MA		—	1966			232		12,448,888		52,044,448		5,903,673		12,448,888		57,948,121		70,397,009		(30,963,840	)		39,433,169		—
Water Park Towers	Arlington, VA		—	1989			362		34,400,000		108,485,859		20,610,791		34,400,000		129,096,650		163,496,650		(58,825,200	)		104,671,450		—
Watertown Square	Watertown, MA	G		2005			134		16,800,000		34,074,056		6,528,689		16,800,000		40,602,745		57,402,745		(17,174,940	)		40,227,805		—
Weaver, The	Austin, TX	G		2020			251		25,405,232		69,552,640		1,847,151		25,405,232		71,399,791		96,805,023		(11,876,026	)		84,928,997		—
West 96th	New York, NY	G		1987			209		84,800,000		67,055,501		10,332,679		84,800,000		77,388,180		162,188,180		(37,403,289	)		124,784,891		—
West End Apartments (fka Emerson Place/CRP II)	Boston, MA	G		2008			310		469,546		163,123,022		7,740,175		469,546		170,863,197		171,332,743		(96,856,266	)		74,476,477		—
Westchester at Rockville	Rockville, MD		—	2009			192		10,600,000		44,135,207		3,301,771		10,600,000		47,436,978		58,036,978		(20,645,593	)		37,391,385		—
Westerly	Dallas, TX	G		2021			331		11,958,829		79,171,448		1,615,516		11,958,829		80,786,964		92,745,793		(14,413,252	)		78,332,541		—
Westmont	New York, NY	G		1986			163		64,900,000		61,143,259		8,448,519		64,900,000		69,591,778		134,491,778		(32,658,363	)		101,833,415		—
Westside	Los Angeles, CA		—	2004			204		34,200,000		56,962,630		4,775,175		34,200,000		61,737,805		95,937,805		(27,842,175	)		68,095,630		—
White Fence Farm	Lakewood, CO		—	2023			202		10,416,696		66,715,895		116,100		10,416,696		66,831,995		77,248,691		(2,787,240	)		74,461,451		—
Windridge (CA)	Laguna Niguel, CA		—	1989			344		2,662,900		23,985,497		16,990,164		2,662,900		40,975,661		43,638,561		(36,747,706	)		6,890,855		—
Wisconsin Place	Chevy Chase, MD		—	2009			432		—		172,089,355		3,080,396		—		175,169,751		175,169,751		(76,656,323	)		98,513,428		—
Woodleaf	Campbell, CA		—	1984			178		8,550,600		16,988,182		8,129,288		8,550,600		25,117,470		33,668,070		(21,267,424	)		12,400,646		—
Zephyr on the Park	Redmond, WA	G		2021			193		15,637,106		89,964,029		704,458		15,637,106		90,668,487		106,305,593		(13,888,189	)		92,417,404		—
Management Business	N/A		—	(D)			—		—		—		150,634,848		—		150,634,848		150,634,848		(121,137,910	)		29,496,938		—
Operating Partnership	N/A		—	(F)			—		—		5,296,710		—		—		5,296,710		5,296,710		—			5,296,710		—
Other	N/A		—		—		—		—		—		384,079		—		384,079		384,079		(143,916	)		240,163		—
Wholly Owned Unencumbered							72,108		4,828,454,463		18,898,331,115		2,333,931,026		4,828,454,463		21,232,262,141		26,060,716,604		(8,995,415,392	)		17,065,301,212		—

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description							Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction	Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Wholly Owned Encumbered:
1111 Belle Pre (fka The Madison)	Alexandria, VA	G		2014		360		18,937,702		94,758,679		2,428,753		18,937,702		97,187,432		116,125,134		(41,313,478	)		74,811,656		86,485,984
300 East 39th (fka East 39th)	New York, NY	G		2001		254		48,900,000		96,174,639		9,392,015		48,900,000		105,566,654		154,466,654		(47,816,688	)		106,649,966		58,771,151
303 East 83rd (fka Camargue)	New York, NY	G		1976		261		79,400,000		79,122,624		15,461,384		79,400,000		94,584,008		173,984,008		(46,180,093	)		127,803,915	(H)
Artisan Square	Northridge, CA		—	2002		140		7,000,000		20,537,359		3,492,472		7,000,000		24,029,831		31,029,831		(17,513,542	)		13,516,289		35,680,839
Avanti	Anaheim, CA		—	1987		162		12,960,000		18,497,682		4,972,488		12,960,000		23,470,170		36,430,170		(15,728,704	)		20,701,466		28,088,126
Avenir Apartments	Boston, MA	G		2009		241		—		114,321,619		9,196,875		—		123,518,494		123,518,494		(54,897,485	)		68,621,009		850,000
Baxter Decatur, The	Decatur, GA		—	2019		290		11,783,860		70,318,252		613,188		11,783,860		70,931,440		82,715,300		(8,210,580	)		74,504,720		43,825,232
City Pointe	Fullerton, CA	G		2004		183		6,863,792		36,476,208		6,192,923		6,863,792		42,669,131		49,532,923		(23,407,435	)		26,125,488		39,685,048
Elevé	Glendale, CA	G		2013		208		14,080,560		56,419,440		2,069,570		14,080,560		58,489,010		72,569,570		(24,001,654	)		48,567,916		38,458,404
Fairchase	Fairfax, VA		—	2007		392		23,500,000		87,722,321		9,016,475		23,500,000		96,738,796		120,238,796		(40,426,139	)		79,812,657	(H)
Flats at DuPont Circle	Washington, D.C.		—	1967		306		35,200,000		108,768,198		6,855,221		35,200,000		115,623,419		150,823,419		(49,886,919	)		100,936,500	(H)
Glo	Los Angeles, CA	G		2008		201		16,047,022		48,650,963		5,124,335		16,047,022		53,775,298		69,822,320		(27,497,664	)		42,324,656		33,209,234
Heights on Capitol Hill	Seattle, WA	G		2006		104		5,425,000		21,138,028		2,703,182		5,425,000		23,841,210		29,266,210		(15,172,677	)		14,093,533		22,623,221
Kelvin Court (fka Alta Pacific)	Irvine, CA		—	2008		132		10,752,145		34,846,856		4,202,521		10,752,145		39,049,377		49,801,522		(21,063,741	)		28,737,781		26,282,272
Kenwood Mews	Burbank, CA		—	1991		141		14,100,000		24,662,883		5,163,667		14,100,000		29,826,550		43,926,550		(19,919,281	)		24,007,269		37,683,442
La Terrazza at Colma Station	Colma, CA	G		2005		155		—		41,251,044		5,806,273		—		47,057,317		47,057,317		(28,298,277	)		18,759,040		25,060,973
Lindley Apartments	Encino, CA		—	2004		129		5,805,000		25,705,000		6,164,344		5,805,000		31,869,344		37,674,344		(15,602,824	)		22,071,520		28,085,310
Lofts 590	Arlington, VA		—	2005		212		20,100,000		67,909,023		2,562,672		20,100,000		70,471,695		90,571,695		(30,041,398	)		60,530,297		43,117,846
Longview Place	Waltham, MA		—	2004		348		20,880,000		90,255,509		16,634,538		20,880,000		106,890,047		127,770,047		(70,305,291	)		57,464,756		84,412,560
Mark on 8th	Seattle, WA	G		2016		174		23,004,387		51,116,647		933,461		23,004,387		52,050,108		75,054,495		(15,702,897	)		59,351,598	(H)
Metro on First	Seattle, WA	G		2002		106		8,540,000		12,209,981		4,960,919		8,540,000		17,170,900		25,710,900		(10,819,183	)		14,891,717		21,526,032
Moda	Seattle, WA	G		2009		251		12,649,228		36,842,012		3,130,604		12,649,228		39,972,616		52,621,844		(21,565,006	)		31,056,838	(I)
Montierra (CA)	San Diego, CA		—	1990		272		8,160,000		29,360,938		18,621,407		8,160,000		47,982,345		56,142,345		(33,906,670	)		22,235,675		61,118,125
Notch	Newcastle, WA		—	2020		158		5,463,324		43,490,989		605,820		5,463,324		44,096,809		49,560,133		(9,125,980	)		40,434,153	(H)
Old Town Lofts	Redmond, WA	G		2014		149		7,740,467		44,146,181		1,441,484		7,740,467		45,587,665		53,328,132		(17,672,182	)		35,655,950		35,625,211
Olympus Towers	Seattle, WA	G		2000		328		14,752,034		73,335,425		16,011,880		14,752,034		89,347,305		104,099,339		(64,261,124	)		39,838,215		94,898,236
Park Place at San Mateo (fka San Mateo)	San Mateo, CA	G		2001		575		71,900,000		211,907,141		32,756,157		71,900,000		244,663,298		316,563,298		(107,423,091	)		209,140,207	(H)
Red 160 (fka Redmond Way)	Redmond, WA	G		2011		250		15,546,376		65,320,010		6,516,711		15,546,376		71,836,721		87,383,097		(32,847,476	)		54,535,621	(H)
Skyhouse Denver	Denver, CO	G		2017		361		13,562,331		126,360,318		4,560,548		13,562,331		130,920,866		144,483,197		(36,284,093	)		108,199,104		74,301,755
SoMa Square Apartments (fka South Market)	San Francisco, CA	G		1986		418		79,900,000		177,316,977		27,859,528		79,900,000		205,176,505		285,076,505		(92,120,716	)		192,955,789	(H)
Teresina	Chula Vista, CA		—	2000		440		28,600,000		61,916,670		10,391,857		28,600,000		72,308,527		100,908,527		(46,896,214	)		54,012,313		37,940,000
Vintage	Ontario, CA		—	2005-2007		300		7,059,230		47,677,762		8,792,477		7,059,230		56,470,239		63,529,469		(32,955,297	)		30,574,172		49,213,487
West 54th	New York, NY	G		2001		222		60,900,000		48,193,837		6,744,489		60,900,000		54,938,326		115,838,326		(26,577,581	)		89,260,745		48,326,811
Portfolio/Entity Encumbrances (1)																									547,116,704
Wholly Owned Encumbered						8,223		709,512,458		2,166,731,215		261,380,238		709,512,458		2,428,111,453		3,137,623,911		(1,145,441,380	)		1,992,182,531		1,602,386,003

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024


Description							Initial Cost to Company				Cost Capitalized Subsequent to Acquisition (Improvements, net) (E)		Gross Amount Carried at Close of Period 12/31/24
Apartment Name	Location	Non-Residential Components		Date of Construction	Apartment Units		Land		Building & Fixtures		Building & Fixtures		Land		Building & Fixtures (A)		Total (B)		Accumulated Depreciation (C)			Investment in Real Estate, Net at 12/31/24		Encumbrances
Partially Owned Unencumbered:
Basin, The	Wakefield, MA	G		(F)		—		36,833,687		83,933,770		—		36,833,687		83,933,770		120,767,457		—			120,767,457		—
Bellevue Meadows	Bellevue, WA		—	1983		180		4,507,100		12,574,814		10,464,162		4,507,100		23,038,976		27,546,076		(17,628,998	)		9,917,078		—
Canyon Ridge	San Diego, CA		—	1989		162		4,869,448		11,955,064		5,705,235		4,869,448		17,660,299		22,529,747		(15,160,177	)		7,369,570		—
Country Oaks	Agoura Hills, CA		—	1985		256		6,105,000		29,561,865		8,850,571		6,105,000		38,412,436		44,517,436		(29,740,487	)		14,776,949		—
Lantern Cove	Foster City, CA		—	1985		232		6,945,000		23,064,976		9,648,942		6,945,000		32,713,918		39,658,918		(26,003,553	)		13,655,365		—
Radius Koreatown	Los Angeles, CA		—	2014/2016		301		32,494,154		84,645,203		1,931,407		32,494,154		86,576,610		119,070,764		(28,228,671	)		90,842,093		—
Rosecliff	Quincy, MA		—	1990		156		5,460,000		15,721,570		8,871,765		5,460,000		24,593,335		30,053,335		(18,467,262	)		11,586,073		—
Schooner Bay I	Foster City, CA		—	1985		168		5,345,000		20,390,618		9,365,180		5,345,000		29,755,798		35,100,798		(22,522,089	)		12,578,709		—
Schooner Bay II	Foster City, CA		—	1985		144		4,550,000		18,064,764		8,121,344		4,550,000		26,186,108		30,736,108		(19,933,003	)		10,803,105		—
St Johns West	Austin, TX		—	2020		297		10,097,109		47,928,229		2,244,564		10,097,109		50,172,793		60,269,902		(12,197,560	)		48,072,342		—
Venn at Main	Bellevue, WA	G		2016		350		26,626,497		151,520,448		3,025,678		26,626,497		154,546,126		181,172,623		(44,611,982	)		136,560,641		—
Virgil Square	Los Angeles, CA		—	1979		142		5,500,000		15,216,613		4,559,088		5,500,000		19,775,701		25,275,701		(13,848,981	)		11,426,720		—
Partially Owned Unencumbered						2,388		149,332,995		514,577,934		72,787,936		149,332,995		587,365,870		736,698,865		(248,342,763	)		488,356,102		—

Partially Owned Encumbered:
Canyon Creek (CA)	San Ramon, CA		—	1984		268		5,425,000		18,812,121		11,514,890		5,425,000		30,327,011		35,752,011		(23,263,607	)		12,488,404		28,303,802
Partially Owned Encumbered						268		5,425,000		18,812,121		11,514,890		5,425,000		30,327,011		35,752,011		(23,263,607	)		12,488,404		28,303,802

Total Consolidated Investment in Real Estate						82,987	$	5,692,724,916	$	21,598,452,385	$	2,679,614,090	$	5,692,724,916	$	24,278,066,475	$	29,970,791,391	$	(10,412,463,142	)	$	19,558,328,249	$	1,630,689,805

(1)

See attached Encumbrances Reconciliation.

EQUITY RESIDENTIAL

ERP OPERATING LIMITED PARTNERSHIP

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2024

NOTES:

(A)

The balance of furniture & fixtures included in the total investment in real estate amount was $2,840,691,355 as of December 31, 2024.

(B)

The cost, net of accumulated depreciation, for Federal Income Tax purposes as of December 31, 2024 was approximately $12.4 billion (unaudited).

(C)

The life to compute depreciation for building is 30 years, for building improvements ranges from 5 to 15 years, for furniture & fixtures, replacements and renovations is 5 to 10 years and for lease intangibles is the average remaining term of each respective lease.

(D)

This asset consists of costs owned by the Management Business acquired/added at various acquisition dates and largely represents furniture, fixtures and equipment and computer equipment and software costs, which are generally depreciated over periods ranging from 3 to 7 years, and leasehold improvements, which are generally depreciated over the term of each respective lease.

(E)

Primarily represents capital expenditures for building improvements, replacements and renovations incurred subsequent to each property’s acquisition date.

(F)

Primarily represents land and/or construction-in-progress on projects either held for future development or projects currently under development.

(G)

A portion of these properties includes and/or will include non-residential components (consisting of retail and/or public parking garage operations).

(H)

See Encumbrances Reconciliation schedule.

(I)

Boot property for Bond Partnership mortgage pool.