CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Land	$ 5,955,121	$ 5,875,803
Depreciable property	21,168,255	20,435,901
Projects under development	143,434	109,409
Land held for development	91,017	89,909
Investment in real estate	27,357,827	26,511,022
Accumulated depreciation	(7,171,876)	(6,696,281)
Investment in real estate, net	20,185,951	19,814,741
Investments in unconsolidated entities	52,474	58,349
Cash and cash equivalents	28,777	47,442
Restricted deposits	55,819	68,871
Right-of-use assets	481,044	0
Other assets	249,991	404,806
Total assets	21,054,056	20,394,209
Liabilities:
Mortgage notes payable, net	1,962,471	2,385,470
Notes, net	6,675,084	5,933,286
Line of credit and commercial paper	354,381	499,183
Accounts payable and accrued expenses	151,680	102,471
Accrued interest payable	73,747	62,622
Lease liabilities	333,312	0
Other liabilities	312,849	358,563
Security deposits	70,398	67,258
Distributions payable	218,136	206,601
Total liabilities	10,152,058	9,615,454
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	494,999	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 September 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; 371,327,332 shares issued and outstanding as of September 30, 2019 and 369,405,161 shares issued and outstanding as of December 31, 2018	3,713	3,694
Paid in capital	8,917,312	8,935,453
Retained earnings	1,308,423	1,261,763
Accumulated other comprehensive income (loss)	(84,092)	(64,986)
Total shareholders’ equity	10,182,636	10,173,204
Noncontrolling Interests:
Operating Partnership	226,065	228,738
Partially Owned Properties	(1,702)	(2,293)
Total Noncontrolling Interests	224,363	226,445
Total equity	10,406,999	10,399,649
Total liabilities and equity/capital	$ 21,054,056	$ 20,394,209