CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Land	$ 5,559,883	$ 5,580,878
Depreciable property	22,343,556	22,334,369
Projects under development	132,341	112,940
Land held for development	60,665	60,567
Investment in real estate	28,096,445	28,088,754
Accumulated depreciation	(9,207,194)	(9,027,850)
Investment in real estate, net	18,889,251	19,060,904
Investments in unconsolidated entities	292,279	279,024
Cash and cash equivalents	133,460	53,869
Restricted deposits	85,625	83,303
Right-of-use assets	466,911	462,956
Other assets	235,000	278,206
Total assets	20,102,526	20,218,262
Liabilities:
Mortgage notes payable, net	1,968,243	1,953,438
Notes, net	5,343,851	5,342,329
Line of credit and commercial paper		129,955
Accounts payable and accrued expenses	144,660	96,028
Accrued interest payable	49,776	66,310
Lease liabilities	314,854	308,748
Other liabilities	283,418	306,941
Security deposits	68,728	68,940
Distributions payable	258,992	244,621
Total liabilities	8,432,522	8,517,310
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	323,551	318,273
Shareholders' equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of March 31, 2023 and December 31, 2022	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 378,898,221 shares issued and outstanding as of March 31, 2023 and 378,429,708 shares issued and outstanding as of December 31, 2022	3,789	3,784
Paid in capital	9,488,320	9,476,085
Retained earnings	1,619,131	1,658,837
Accumulated other comprehensive income (loss)	(11,232)	(2,547)
Total shareholders’ equity	11,137,288	11,173,439
Noncontrolling Interests:
Operating Partnership	211,718	209,961
Partially Owned Properties	(2,553)	(721)
Total Noncontrolling Interests	209,165	209,240
Total equity	11,346,453	11,382,679
Total liabilities and equity	$ 20,102,526	$ 20,218,262