CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investment in real estate
Land	$ 5,902,186	$ 5,899,862
Depreciable property	18,798,554	18,730,579
Projects under development	666,228	637,168
Land held for development	109,136	118,816
Investment in real estate	25,476,104	25,386,425
Accumulated depreciation	(5,526,586)	(5,360,389)
Investment in real estate, net	19,949,518	20,026,036
Cash and cash equivalents	42,139	77,207
Investments in unconsolidated entities	59,483	60,141
Deposits – restricted	76,053	76,946
Escrow deposits – mortgage	68,031	64,935
Other assets	413,114	398,883
Total assets	20,608,338	20,704,148
Liabilities:
Mortgage notes payable, net	3,766,762	4,119,181
Notes, net	4,848,477	4,848,079
Line of credit and commercial paper	314,686	19,998
Accounts payable and accrued expenses	165,640	147,482
Accrued interest payable	74,383	60,946
Other liabilities	308,466	350,466
Security deposits	63,124	62,624
Distributions payable	191,641	192,296
Total liabilities	9,733,179	9,801,072
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	359,733	442,092
Shareholders' equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of March 31, 2017 and December 31, 2016	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 367,137,757 shares issued and outstanding as of March 31, 2017 and 365,870,924 shares issued and outstanding as of December 31, 2016	3,671	3,659
Paid in capital	8,846,997	8,758,422
Retained earnings	1,501,654	1,543,626
Accumulated other comprehensive (loss)	(109,326)	(113,909)
Total shareholders’ equity	10,280,276	10,229,078
Noncontrolling Interests:
Operating Partnership	228,762	221,297
Partially Owned Properties	6,388	10,609
Total Noncontrolling Interests	235,150	231,906
Total equity	10,515,426	10,460,984
Total liabilities and equity/capital	$ 20,608,338	$ 20,704,148