Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Single-family properties:
Land	$ 1,512,183	$ 1,229,017
Buildings and improvements	6,614,953	5,469,533
Single-family properties held for sale, net	87,430	7,432
Single-family properties, gross	8,214,566	6,705,982
Less: accumulated depreciation	(666,710)	(416,044)
Single-family properties, net	7,547,856	6,289,938
Cash and cash equivalents	118,799	57,686
Restricted cash	131,442	111,282
Rent and other receivables, net	17,618	13,936
Escrow deposits, prepaid expenses and other assets	133,594	121,627
Deferred costs and other intangibles, net	11,956	10,429
Asset-backed securitization certificates	25,666	25,666
Goodwill	120,279	120,655
Total assets	8,107,210	6,751,219
Liabilities
Revolving credit facilities	0	0
Exchangeable senior notes, net	108,148	0
Secured note payable	49,828	50,752
Accounts payable and accrued expenses	177,206	154,751
Amounts payable to affiliates	0	4,093
Contingently convertible Series E units liability	0	69,957
Preferred shares derivative liability	69,810	62,790
Total liabilities	3,169,590	2,815,986
Commitments and contingencies
Shareholders' equity:
Preferred shares, $0.01 par value per share, 100,000,000 shares authorized, 37,010,000 and 17,060,000 shares issued and outstanding at December 31, 2016 and 2015, respectively	370	171
Additional paid-in capital	4,568,616	3,554,063
Accumulated deficit	(378,578)	(296,865)
Accumulated other comprehensive income (loss)	95	(102)
Total shareholders' equity	4,192,936	3,259,345
Noncontrolling interest	744,684	675,888
Total equity	4,937,620	3,935,233
Total liabilities and equity	8,107,210	6,751,219
Class A common shares
Shareholders' equity:
Common shares	2,427	2,072
Class B common shares
Shareholders' equity:
Common shares	6	6
Term Loan Facility, Net
Liabilities
Secured Debt	321,735	0
Asset-backed securitizations, net
Liabilities
Secured Debt	$ 2,442,863	$ 2,473,643