EQUITY RESIDENTIAL (EQR)

As of March 31, 2008, the Company had outstanding mortgage debt of approximately $4.1 billion.

During the quarter ended March 31, 2008, the Company:

·                  Repaid $74.5 million of mortgage loans;

·                  Obtained $500.0 million of mortgage loan proceeds through the issuance of an 11.5 year cross-collateralized loan with a fixed stated interest rate for 10.5 years at 5.19% secured by 13 properties; and

·                  Obtained an additional $63.1 million of new mortgage loans on certain other properties.

As of March 31, 2008, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through September 1, 2045. At March 31, 2008, the interest rate range on the Company’s mortgage debt was 1.40% to 12.465%. During the quarter ended March 31, 2008, the weighted average interest rate on the Company’s mortgage debt was 5.23%.

As of September 30, 2007, the Company had outstanding mortgage debt of approximately $3.6 billion.

During the nine months ended September 30, 2007, the Company:

•                  Repaid $366.8 million of mortgage loans;

•                  Assumed $197.8 million of mortgage debt on certain properties in connection with their acquisitions;

•                  Obtained $646.9 million of new mortgage loans on certain properties; and

•                  Was released from $76.7 million of mortgage debt assumed by the purchaser on disposed properties.

The Company recorded approximately $3.3 million and $3.4 million of prepayment penalties and write-offs of unamortized deferred financing costs, respectively, as additional interest related to debt extinguishment of mortgages during the nine months ended September 30, 2007.

As of September 30, 2007, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through September 1, 2045.  At September 30, 2007, the interest rate range on the Company’s mortgage debt was 3.32% to 12.465%.  During the nine months ended September 30, 2007, the weighted average interest rate on the Company’s mortgage debt was 5.75%.

8.             Mortgage Notes Payable

As of December 31, 2006, the Company had outstanding mortgage indebtedness of approximately $3.2 billion.

During the year ended December 31, 2006, the Company:

•      Repaid $493.0 million of mortgage loans;

•      Assumed/consolidated $149.5 million of mortgage debt on certain properties in connection with their acquisition and/or consolidation;

•      Obtained $267.0 million of new mortgage loans on certain properties; and

•      Was released from $117.9 million of mortgage debt assumed by the purchaser on disposed properties.

As of December 31, 2006, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through September 1, 2045.  At December 31, 2006, the interest rate range on the Company’s mortgage debt was 3.32% to 12.465%.  During the year ended December 31, 2006, the weighted average interest rate on the Company’s mortgage debt was 5.82%.

The historical cost, net of accumulated depreciation, of encumbered properties was $4.7 billion and $4.8 billion at December 31, 2006 and 2005, respectively.

Aggregate payments of principal on mortgage notes payable for each of the next five years and thereafter are as follows (amounts in thousands):

As of December 31, 2005, the Company had outstanding mortgage indebtedness of approximately $3.4 billion.

During the year ended December 31, 2005, the Company:

•      Repaid $470.4 million of mortgage loans;

•      Assumed/consolidated $446.3 million of mortgage debt on certain properties in connection with their acquisition and/or consolidation;

•      Obtained $280.1 million of new mortgage loans on certain properties; and

•      Was released from $35.0 million of mortgage debt assumed by the purchaser on disposed properties.

As of December 31, 2005, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through February 1, 2041.  At December 31, 2005, the interest rate range on the Company’s mortgage debt was 3.35% to 12.465%.  During the year ended December 31, 2005, the weighted average interest rate on the Company’s mortgage debt was 5.63%.

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As of June 30, 2007, the Company had outstanding mortgage debt of approximately $3.2 billion.

During the six months ended June 30, 2007, the Company:

·                  Repaid $322.6 million of mortgage loans;

·                  Assumed $152.7 million of mortgage debt on certain properties in connection with their acquisitions;

·                  Obtained $262.0 million of new mortgage loans on certain properties; and

·                  Was released from $76.7 million of mortgage debt assumed by the purchaser on disposed properties.

The Company recorded approximately $3.0 million and $3.4 million of prepayment penalties and write-offs of unamortized deferred financing costs, respectively, as additional interest related to debt extinguishment of mortgages during the six months ended June 30, 2007.

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As of March 31, 2007, the Company had outstanding mortgage debt of approximately $3.1 billion.

During the quarter ended March 31, 2007, the Company:

·                  Repaid $141.7 million of mortgage loans;

·                  Assumed $40.7 million of mortgage debt on certain properties in connection with their acquisitions;

·                  Obtained $33.6 million of new mortgage loans on certain properties; and

·                  Was released from $4.8 million of mortgage debt assumed by the purchaser on disposed properties.

The Company recorded approximately $0.1 million and $0.3 million of prepayment penalties and write-offs of unamortized deferred financing costs, respectively, as additional interest related to debt extinguishment of mortgages during the quarter ended March 31, 2007.

As of March 31, 2007, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through September 1, 2045.  At March 31, 2007, the interest rate range on the Company’s mortgage debt was 3.32% to 12.465%.  During the quarter ended March 31, 2007, the weighted average interest rate on the Company’s mortgage debt was 5.73%.

8.              Mortgage Notes Payable

As of September 30, 2006, the Company had outstanding mortgage indebtedness of approximately $3.4 billion, of which $196.3 million is classified as held for sale.

During the nine months ended September 30, 2006, the Company:

·                  Repaid $267.0 million of mortgage loans;

·                  Assumed/consolidated $115.1 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

·                  Obtained $247.8 million of new mortgage loans on certain properties; and

·                  Was released from $117.9 million of mortgage debt assumed by the purchaser on disposed properties.

As of September 30, 2006, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through September 1, 2045.  At September 30, 2006, the interest rate range on the Company’s mortgage debt was 3.32% to 12.465%.  During the nine months ended September 30, 2006, the weighted average interest rate on the Company’s mortgage debt was 5.83%.

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As of December 31, 2005, the Company had outstanding mortgage indebtedness of approximately $3.4 billion.

During the year ended December 31, 2005, the Company:

·                  Repaid $470.4 million of mortgage loans;

·                  Assumed/consolidated $446.3 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

·                  Obtained $280.1 million of mortgage loans on certain properties; and

·                  Was released from $35.0 million of mortgage debt assumed by the purchaser on disposed properties.

As of December 31, 2005, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through February 1, 2041.  At December 31, 2005, the interest rate range on the Company’s mortgage debt was 3.35% to 12.465%.  During the year ended December 31, 2005, the weighted average interest rate on the Company’s mortgage debt was 5.63%.

The historical cost, net of accumulated depreciation, of encumbered properties was $4.8 billion and $4.4 billion at December 31, 2005 and 2004, respectively.

Aggregate payments of principal on mortgage notes payable for each of the next five years and thereafter are as follows (amounts in thousands):

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As of December 31, 2004, the Company had outstanding mortgage indebtedness of approximately $3.2 billion.

During the year ended December 31, 2004, the Company:

·                  Repaid $494.9 million of mortgage loans;

·                  Assumed $665.4 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

·                  Obtained $467.5 million of mortgage loans on certain properties;

·                  Was released from $29.5 million of mortgage debt assumed by the purchaser on disposed properties; and

·                  Refinanced $130.0 million of mortgage notes and obtained the release of the property as collateral for the loan; therefore the loan was reclassified to notes, net.

As of December 31, 2004, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through January 1, 2035.  At December 31, 2004, the interest rate range on the Company’s mortgage debt was 1.89% to 12.465%.  During the year ended December 31, 2004, the weighted average interest rate on the Company’s mortgage debt was 5.46%.

8.             Mortgage Notes Payable

As of June 30, 2006, the Company had outstanding mortgage indebtedness of approximately $3.3 billion of which $207.0 million is classified as held for sale.

During the six months ended June 30, 2006, the Company:

·      Repaid $246.2 million of mortgage loans;

·      Assumed/consolidated $85.8 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

·      Obtained $208.9 million of new mortgage loans on certain properties; and

·      Was released from $117.9 million of mortgage debt assumed by the purchaser on disposed properties.

As of June 30, 2006, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through February 1, 2041.  At June 30, 2006, the interest rate range on the Company’s mortgage debt was 3.85% to 12.465%.  During the quarter ended June 30, 2006, the weighted average interest rate on the Company’s mortgage debt was 5.80%.

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8.              Mortgage Notes Payable

As of March 31, 2006, the Company had outstanding mortgage indebtedness of approximately $3.5 billion.

During the quarter ended March 31, 2006, the Company:

·                  Repaid $148.0 million of mortgage loans;

·                  Assumed/consolidated $73.1 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

·                  Obtained $168.8 million of new mortgage loans on certain properties; and

·                  Was released from $14.2 million of mortgage debt assumed by the purchaser on one disposed property.

As of March 31, 2006, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through February 1, 2041. At March 31, 2006, the interest rate range on the Company’s mortgage debt was 3.05% to 12.465%. During the quarter ended March 31, 2006, the weighted average interest rate on the Company’s mortgage debt was 5.74%

As of December 31, 2004, the Company had outstanding mortgage indebtedness of approximately $3.2 billion.

During the year ended December 31, 2004, the Company:

•                  Repaid $494.9 million of mortgage loans;

•                  Assumed/consolidated $665.4 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

•                  Obtained $467.5 million of mortgage loans on certain properties;

•                  Was released from $29.5 million of mortgage debt assumed by the purchaser on disposed properties; and

•                  Refinanced $130.0 million of mortgage notes and obtained the release of the property as collateral for the loan; therefore the loan was reclassified to notes, net.

As of December 31, 2004, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through January 1, 2035.  At December 31, 2004, the interest rate range on the Company’s mortgage debt was 1.89% to 12.465%.  During the year ended December 31, 2004, the weighted average interest rate on the Company’s mortgage debt was 5.46%.

The historical cost, net of accumulated depreciation, of encumbered properties was $4.4 billion and $3.8 billion at December 31, 2004 and 2003, respectively.

Aggregate payments of principal on mortgage notes payable for each of the next five years and thereafter are as follows (amounts in thousands):

As of December 31, 2003, the Company had outstanding mortgage indebtedness of approximately $2.7 billion.

During the year ended December 31, 2003, the Company:

•                  Repaid $432.9 million of mortgage loans;

•                  Assumed $141.1 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

•                  Obtained $111.2 million of mortgage loans on certain properties; and

•                  Was released from $53.3 million of mortgage debt assumed by the purchaser on disposed properties.

As of December 31, 2003, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through November 1, 2033.  At December 31, 2003, the interest rate range

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8.             Mortgage Notes Payable

As of December 31, 2004, the Company had outstanding mortgage indebtedness of approximately $3.2 billion.

During the year ended December 31, 2004, the Company:

•                  Repaid $494.9 million of mortgage loans;

•                  Assumed/consolidated $665.4 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

•                  Obtained $467.5 million of mortgage loans on certain properties;

•                  Was released from $29.5 million of mortgage debt assumed by the purchaser on disposed properties; and

•                  Refinanced $130.0 million of mortgage notes and obtained the release of the property as collateral for the loan; therefore the loan was reclassified to notes, net.

As of December 31, 2004, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through January 1, 2035.  At December 31, 2004, the interest rate range on the Company’s mortgage debt was 1.89% to 12.465%.  During the year ended December 31, 2004, the weighted average interest rate on the Company’s mortgage debt was 5.46%.

The historical cost, net of accumulated depreciation, of encumbered properties was $4.4 billion and $3.8 billion at December 31, 2004 and 2003, respectively.

Aggregate payments of principal on mortgage notes payable for each of the next five years and thereafter are as follows (amounts in thousands):

As of December 31, 2003, the Company had outstanding mortgage indebtedness of approximately $2.7 billion.

During the year ended December 31, 2003, the Company:

•                  Repaid $432.9 million of mortgage loans;

•                  Assumed $141.1 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations;

•                  Obtained $111.2 million of mortgage loans on certain properties; and

•                  Was released from $53.3 million of mortgage debt assumed by the purchaser on disposed properties.

As of December 31, 2003, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through November 1, 2033.  At December 31, 2003, the interest rate range

F-28

8.             Mortgage Notes Payable

As of March 31, 2005, the Company had outstanding mortgage indebtedness of approximately $3.1 billion.

During the quarter ended March 31, 2005, the Company:

•      Repaid $134.3 million of mortgage loans;

•      Assumed/consolidated $48.7 million of mortgage debt on certain properties in connection with their acquisitions and/or consolidations; and

•      Obtained $24.7 million of mortgage loans on certain properties.

As of March 31, 2005, scheduled maturities for the Company’s outstanding mortgage indebtedness were at various dates through December 1, 2034.  At March 31, 2005, the interest rate range on the Company’s mortgage debt was 2.17% to 12.465%.  During the quarter ended March 31, 2005, the weighted average interest rate on the Company’s mortgage debt was 5.54%.

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