CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Real estate properties:
Land	$ 44,060	$ 44,060
Buildings and improvements	363,990	362,042
Total real estate properties, at cost, gross	408,050	406,102
Accumulated depreciation	(163,451)	(156,439)
Total real estate properties, at cost, net	244,599	249,663
Cash and cash equivalents	2,691,503	2,800,998
Rents receivable	15,960	15,549
Other assets, net	16,418	15,173
Total assets	2,968,480	3,081,383
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other	18,619	19,762
Rent collected in advance	2,763	3,986
Distributions payable	1,276	2,365
Total liabilities	22,658	26,113
Shareholders’ equity:
Series D preferred shares; 6.50% cumulative convertible; 4,915,196 shares issued and outstanding, aggregate liquidation preference of $122,880	119,263	119,263
Common shares of beneficial interest, $0.01 par value: $350,000,000 shares authorized; $111,241,842 and $115,205,818 shares issued and outstanding, respectively	1,112	1,152
Additional paid in capital	4,018,440	4,128,656
Cumulative net income	3,802,750	3,798,552
Cumulative common distributions	(4,281,442)	(4,281,195)
Cumulative preferred distributions	(721,694)	(717,700)
Total shareholders’ equity	2,938,429	3,048,728
Noncontrolling interest	7,393	6,542
Total equity	2,945,822	3,055,270
Total liabilities and equity	$ 2,968,480	$ 3,081,383