Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Real estate
Land	$ 687	$ 694
Buildings and improvements	2,581	2,562
Furniture, fixtures, and other equipment	385	387
Gross operating real estate	3,653	3,643
Less accumulated depreciation	(1,456)	(1,386)
Net operating real estate	2,197	2,257
Construction in progress	34	43
Total real estate, net	2,231	2,300
Right of use assets	28
Cash and cash equivalents	42	68
Accounts receivable	34	33
Other assets	60	54
Total Assets	2,395	2,455
Liabilities:
Debt, net	1,002	1,014
Mandatorily redeemable preferred shares	15	15
Accounts payable and accrued expenses	101	99
Dividends payable	11	12
Other liabilities	51	11
Deferred tax liabilities	6	7
Total Liabilities	1,186	1,158
Commitments and contingencies
Equity:
Common stock, $0.01 par value; 1.0 billion shares authorized; 57.7 million and 59.5 million shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	1	1
Additional paid-in-capital	954	974
Retained earnings	251	319
Noncontrolling interest	3	3
Total Equity	1,209	1,297
Total Liabilities and Equity	$ 2,395	$ 2,455