CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investment in real estate:
Master Planned Community assets	$ 1,642,842	$ 1,641,063
Land	322,462	317,211
Buildings and equipment	1,772,401	1,243,979
Less: accumulated depreciation	(232,969)	(157,182)
Developments	1,036,927	914,303
Net property and equipment	4,541,663	3,959,374
Investment in Real Estate and Other Affiliates	57,811	53,686
Net investment in real estate	4,599,474	4,013,060
Cash and cash equivalents	445,301	560,451
Accounts receivable, net	32,203	28,190
Municipal Utility District receivables, net	139,946	104,394
Notes receivable, net	1,664	28,630
Deferred Costs	61,804	60,407
Prepaid expenses and other assets, net	441,190	310,136
Total assets	5,721,582	5,105,268
Liabilities:
Mortgages, notes and loans payable	2,443,962	1,978,807
Deferred tax liabilities	89,221	62,205
Warrant liabilities	307,760	366,080
Uncertain tax position liability	1,396	4,653
Accounts payable and accrued expenses	515,354	466,017
Total liabilities	$ 3,357,693	$ 2,877,762
Commitments and Contingencies (see Note 10)
Equity:
Preferred stock: $.01 par value; 50,000,000 shares authorized, none issued
Common stock: $.01 par value; 150,000,000 shares authorized, 39,714,838 shares issued and outstanding as of December 31, 2015 and 39,638,094 shares issued and outstanding as of December 31, 2014	$ 398	$ 396
Additional paid-in capital	2,847,823	2,838,013
Accumulated deficit	(480,215)	(606,934)
Accumulated other comprehensive loss	(7,889)	(7,712)
Total stockholders' equity	2,360,117	2,223,763
Noncontrolling interests	3,772	3,743
Total equity	2,363,889	2,227,506
Total liabilities and equity	$ 5,721,582	$ 5,105,268