CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real estate:
Land and improvements	$ 4,185,720	$ 4,077,090
Buildings and improvements	16,256,164	15,651,035
Furniture, fixtures and equipment	795,370	696,200
Gross operating real estate	21,237,254	20,424,325
Less accumulated depreciation	(5,003,393)	(4,601,447)
Net operating real estate	16,233,861	15,822,878
Construction in progress, including land	1,411,823	1,768,132
Land held for development	20,095	84,712
Inventory, Real Estate	453,686	0
Real Estate Held-for-sale	0	55,208
Total real estate, net	18,119,465	17,730,930
Cash and cash equivalents	246,425	91,659
Cash in escrow	88,329	126,205
Resident security deposits	34,172	31,816
Investments in unconsolidated real estate entities	207,204	217,432
Deferred development costs	74,388	47,443
Prepaid expenses and other assets	169,263	134,715
Right of use lease assets	121,221
Total assets	19,060,467	18,380,200
LIABILITIES AND EQUITY
Unsecured notes, net	6,356,890	5,905,993
Variable rate unsecured credit facility	0	0
Mortgage notes payable, net	1,004,389	1,134,270
Dividends payable	213,651	204,191
Payables for construction	93,593	96,983
Accrued expenses and other liabilities	304,676	297,700
Lease liabilities	136,705
Accrued interest payable	70,174	46,648
Resident security deposits	61,961	58,415
Liabilities related to real estate assets held for sale	0	150
Total liabilities	8,242,039	7,744,350
Commitments and contingencies
Redeemable noncontrolling interests	3,355	3,244
Equity:
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at September 30, 2019 and December 31, 2018; zero shares issued and outstanding at September 30, 2019 and December 31, 2018	0	0
Common stock, $0.01 par value; 280,000,000 shares authorized at September 30, 2019 and December 31, 2018; 139,660,299 and 138,508,424 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	1,397	1,385
Additional paid-in capital	10,528,787	10,306,588
Accumulated earnings less dividends	329,323	350,777
Accumulated other comprehensive loss	(45,082)	(26,144)
Stockholders' Equity Attributable to Parent	10,814,425	10,632,606
Stockholders' Equity Attributable to Noncontrolling Interest	648	0
Total equity	10,815,073	10,632,606
Total liabilities and equity	$ 19,060,467	$ 18,380,200