Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Real estate
Land	$ 691	$ 694
Buildings and improvements	2,572	2,562
Furniture, fixtures, and other equipment	383	387
Gross operating real estate	3,646	3,643
Less accumulated depreciation	(1,424)	(1,386)
Net operating real estate	2,222	2,257
Construction in progress	51	43
Total real estate, net	2,273	2,300
Right of use assets	27
Cash and cash equivalents	61	68
Accounts receivable	34	33
Other assets	44	54
Total Assets	2,439	2,455
Liabilities:
Debt, net	1,013	1,014
Mandatorily redeemable preferred shares	15	15
Accounts payable and accrued expenses	97	99
Dividends payable	12	12
Other liabilities	43	11
Deferred tax liabilities	7	7
Total Liabilities	1,187	1,158
Commitments and contingencies
Equity:
Common stock, $0.01 par value; 1.0 billion shares authorized as of March 31, 2019 and December 31, 2018; 59.2 million and 59.5 million shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	1	1
Additional paid-in-capital	967	974
Retained earnings (accumulated deficit)	281	319
Noncontrolling interest	3	3
Total Equity	1,252	1,297
Total Liabilities and Equity	$ 2,439	$ 2,455