Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Land	$ 1,199,384	$ 1,098,526
Buildings and improvements	7,404,090	6,935,971
Real estate assets, at cost, total	8,603,474	8,034,497
Accumulated depreciation	(2,686,025)	(2,403,149)
Net operating real estate assets	5,917,449	5,631,348
Properties under development, including land	512,319	293,978
Investments in joint ventures	20,688	22,283
Total real estate assets	6,450,456	5,947,609
Accounts receivable – affiliates	21,833	22,920
Other assets, net	248,716	205,454
Cash and cash equivalents	23,184	34,378
Restricted cash	4,315	9,225
Total assets	6,748,504	6,219,586
Liabilities
Unsecured notes payable	2,524,099	1,836,427
Secured notes payable	0	485,176
Accounts payable and accrued expenses	171,719	146,866
Accrued real estate taxes	54,408	54,358
Distributions payable	80,973	74,982
Other liabilities	215,581	183,999
Total liabilities	3,046,780	2,781,808
Commitments and contingencies (Note 14)
Non-qualified deferred compensation share awards	0	52,674
Equity
Common shares of beneficial interest; $0.01 par value per share; 175,000 shares authorized; 109,110 and 105,503 issued; 106,878 and 103,080 outstanding at December 31, 2019 and 2018, respectively	1,069	1,031
Additional paid-in capital	4,566,731	4,154,763
Distributions in excess of net income attributable to common shareholders	(584,167)	(495,496)
Treasury shares, at cost (9,636 and 9,841 common shares, at December 31, 2019 and 2018, respectively)	(348,419)	(355,804)
Accumulated other comprehensive income (loss)	(6,529)	6,929
Total common equity	3,628,685	3,311,423
Non-controlling interests	73,039	73,681
Total equity	3,701,724	3,385,104
Total liabilities and equity	$ 6,748,504	$ 6,219,586