CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate properties:
Land	$ 44,060	$ 44,060
Buildings and improvements	367,827	364,063
Total real estate properties, at cost, gross	411,887	408,123
Accumulated depreciation	(180,535)	(169,530)
Total real estate properties, at cost, net	231,352	238,593
Cash and cash equivalents	2,160,535	2,582,222
Rents receivable	15,737	16,009
Other assets, net	17,417	18,061
Total assets	2,425,041	2,854,885
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other	27,298	25,935
Rent collected in advance	1,990	2,355
Distributions payable	5,640	2,863
Total liabilities	34,928	31,153
Commitments and contingencies
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; 106,847,438 and 109,428,252 shares issued and outstanding, respectively	1,068	1,094
Additional paid in capital	3,935,873	3,979,566
Cumulative net income	3,926,979	3,835,815
Cumulative common distributions	(4,864,440)	(4,393,522)
Cumulative preferred distributions	(733,676)	(725,688)
Total shareholders’ equity	2,385,067	2,816,528
Noncontrolling interest	5,046	7,204
Total equity	2,390,113	2,823,732
Total liabilities and equity	$ 2,425,041	$ 2,854,885