CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investment in real estate:
Master Planned Communities assets	$ 1,675,536	$ 1,642,660
Buildings and equipment	3,136,130	2,932,963
Less: accumulated depreciation	(444,461)	(380,892)
Land	303,384	297,596
Developments	1,349,855	1,290,068
Net property and equipment	6,020,444	5,782,395
Investment in real estate and other affiliates	117,821	102,287
Net investment in real estate	6,138,265	5,884,682
Cash and cash equivalents	650,702	499,676
Restricted cash	197,898	224,539
Accounts receivable, net	19,980	12,589
Municipal Utility District receivables, net	273,169	222,269
Notes receivable, net	300	4,694
Deferred expenses, net	108,198	95,714
Operating lease right-of-use assets, net	71,176	0
Prepaid expenses and other assets, net	249,490	411,636
Total assets	7,709,178	7,355,799
Liabilities:
Mortgages, notes and loans payable, net	3,422,490	3,181,213
Operating lease obligations	71,125	0
Deferred tax liabilities	166,033	157,188
Accounts payable and accrued expenses	697,763	779,272
Total liabilities	4,357,411	4,117,673
Commitments and contingencies (see Note 9)
Equity:
Preferred stock: $.01 par value; 50,000,000 shares authorized, none issued	0	0
Common stock: $.01 par value; 150,000,000 shares authorized, 43,661,694 shares issued and 43,141,845 outstanding as of June 30, 2019 and 43,511,473 shares issued and 42,991,624 outstanding as of December 31, 2018	437	436
Additional paid-in capital	3,329,062	3,322,433
Accumulated deficit	(75,043)	(120,341)
Accumulated other comprehensive loss	(28,542)	(8,126)
Treasury stock, at cost, 519,849 shares as of June 30, 2019 and December 31, 2018	(62,190)	(62,190)
Total stockholders' equity	3,163,724	3,132,212
Noncontrolling interests	188,043	105,914
Total equity	3,351,767	3,238,126
Total liabilities and equity	$ 7,709,178	$ 7,355,799