CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Real estate:
Land and improvements	$ 3,793,026	$ 3,636,761
Buildings and improvements	13,636,933	13,056,292
Furniture, fixtures and equipment	492,284	458,224
Gross operating real estate	17,922,243	17,151,277
Less accumulated depreciation	(3,540,481)	(3,303,751)
Net operating real estate	14,381,762	13,847,526
Construction in progress, including land	1,538,641	1,592,917
Land held for development	511,797	484,377
Real estate assets held for sale, net	65,894	17,489
Real Estate Investments, Net	16,498,094	15,942,309
Cash and cash equivalents	182,306	400,507
Cash in escrow	105,385	104,821
Resident security deposits	33,624	30,077
Investments in unconsolidated real estate entities	325,614	216,919
Deferred development costs	40,627	37,577
Prepaid expenses and other assets	209,417	199,095
Total assets	17,395,067	16,931,305
LIABILITIES AND EQUITY
Unsecured notes, net	4,319,165	3,845,674
Variable rate unsecured credit facility	0	0
Mortgage notes payable	2,514,826	2,611,274
Dividends payable	185,369	171,257
Payables for construction	100,876	98,802
Accrued expenses and other liabilities	306,306	260,005
Accrued interest payable	42,395	40,085
Resident security deposits	58,093	53,132
Liabilities related to real estate assets held for sale	1,549	553
Total liabilities	7,528,579	7,080,782
Commitments and contingencies
Redeemable noncontrolling interests	9,969	9,997
Equity:
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at June 30, 2016 and December 31, 2015; zero shares issued and outstanding at June 30, 2016 and December 31, 2015	0	0
Common stock, $0.01 par value; 280,000,000 shares authorized at June 30, 2016 and December 31, 2015; 137,312,534 and 137,002,031 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	1,373	1,370
Additional paid-in capital	10,092,951	10,068,532
Accumulated earnings less dividends	(134,808)	(197,989)
Accumulated other comprehensive loss	(102,997)	(31,387)
Total equity	9,856,519	9,840,526
Total liabilities and equity	$ 17,395,067	$ 16,931,305