CONSENT OF MORGAN STANLEY
Published on
Exhibit 23.8
MORGAN STANLEY
Morgan Stanley Realty
Incorporated
1585 Broadway
New York, New York 10036
(212) 761-4700
We hereby consent to (i) the use of our opinion letter dated August 27, 1997 to
the Board of Directors of Evans Withycombe Residential, Inc. (the "Company")
included as Appendix D to the Joint Proxy Statement/Prospectus which forms a
part of the Registration Statement on Form S-4 relating to the proposed merger
of the Company and Equity Residential Properties Trust and (ii) the references
to such opinion in such Joint Proxy Statement/Prospectus. In giving such
consent, we do not admit that we come within the category of persons whose
consent is required under Section 7 of the Securities Act of 1933, as amended,
or the rules and regulations of the Securities and Exchange Commission
thereunder, nor do we hereby admit that we are experts with respect to any part
of such Registration Statement within the meaning of the term "experts" as used
in the Securities Act of 1933, as amended, or the rules and regulations of the
Securities and Exchange Commission thereunder.
MORGAN STANLEY REALTY INCORPORATED
By: /s/ Scott M. Kelley
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Name: Scott M. Kelley
Title: Managing Director
October 29, 1997