CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Land	$ 5,889,308	$ 5,875,803
Depreciable property	20,824,053	20,435,901
Projects under development	171,869	109,409
Land held for development	110,545	89,909
Investment in real estate	26,995,775	26,511,022
Accumulated depreciation	(7,026,622)	(6,696,281)
Investment in real estate, net	19,969,153	19,814,741
Investments in unconsolidated entities	52,907	58,349
Cash and cash equivalents	251,273	47,442
Restricted deposits	58,195	68,871
Right-of-use assets	431,753	0
Other assets	227,430	404,806
Total assets	20,990,711	20,394,209
Liabilities:
Mortgage notes payable, net	2,599,013	2,385,470
Notes, net	6,531,408	5,933,286
Line of credit and commercial paper	0	499,183
Accounts payable and accrued expenses	108,574	102,471
Accrued interest payable	64,158	62,622
Lease liabilities	281,620	0
Other liabilities	302,628	358,563
Security deposits	69,027	67,258
Distributions payable	218,697	206,601
Total liabilities	10,175,125	9,615,454
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	436,035	379,106
Shareholders’ equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of June 30, 2019 and December 31, 2018	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 370,838,810 shares issued and outstanding as of June 30, 2019 and 369,405,161 shares issued and outstanding as of December 31, 2018	3,708	3,694
Paid in capital	8,949,581	8,935,453
Retained earnings	1,252,809	1,261,763
Accumulated other comprehensive income (loss)	(89,849)	(64,986)
Total shareholders’ equity	10,153,529	10,173,204
Noncontrolling Interests:
Operating Partnership	227,320	228,738
Partially Owned Properties	(1,298)	(2,293)
Total Noncontrolling Interests	226,022	226,445
Total equity	10,379,551	10,399,649
Total liabilities and equity/capital	$ 20,990,711	$ 20,394,209