CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investment in real estate
Land	$ 5,874,647	$ 5,864,046
Depreciable property	18,610,446	18,037,087
Projects under development	761,068	1,122,376
Land held for development	115,082	158,843
Investment in real estate	25,361,243	25,182,352
Accumulated depreciation	(5,255,965)	(4,905,406)
Investment in real estate, net	20,105,278	20,276,946
Real estate held for sale	0	2,181,135
Cash and cash equivalents	517,586	42,276
Investments in unconsolidated entities	60,911	68,101
Deposits – restricted	129,569	55,893
Escrow deposits – mortgage	62,994	56,946
Other assets	421,406	428,899
Total assets	21,297,744	23,110,196
Liabilities:
Mortgage notes payable, net	4,138,301	4,685,134
Notes, net	4,360,486	5,848,956
Line of credit and commercial paper	0	387,276
Accounts payable and accrued expenses	199,795	187,124
Accrued interest payable	69,441	85,221
Other liabilities	353,605	366,387
Security deposits	64,060	77,582
Distributions payable	1,331,363	209,378
Total liabilities	10,517,051	11,847,058
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	441,892	566,783
Shareholders’ equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of September 30, 2016 and December 31, 2015	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 365,657,065 shares issued and outstanding as of September 30, 2016 and 364,755,444 shares issued and outstanding as of December 31, 2015	3,657	3,648
Paid in capital	8,741,846	8,572,365
Retained earnings	1,451,452	2,009,091
Accumulated other comprehensive (loss)	(118,730)	(152,016)
Total shareholders’ equity	10,115,505	10,470,368
Noncontrolling Interests:
Operating Partnership	219,102	221,379
Noncontrolling Interests – Partially Owned Properties	4,194	4,608
Total Noncontrolling Interests	223,296	225,987
Total equity	10,338,801	10,696,355
Total liabilities and equity	$ 21,297,744	$ 23,110,196