CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real estate owned:
Real estate held for investment	$ 12,608,022	$ 12,532,324
Less: accumulated depreciation	(4,231,269)	(4,131,330)
Real estate held for investment, net	8,376,753	8,400,994
Real estate under development (net of accumulated depreciation of $81 and $23, respectively)	95,245	69,754
Real estate held for disposition (net of accumulated depreciation of $41,121 and $0, respectively)	73,529
Total real estate owned, net of accumulated depreciation	8,545,527	8,470,748
Cash and cash equivalents	980	8,106
Restricted cash	21,949	25,185
Notes receivable, net	151,543	153,650
Investment in and advances to unconsolidated joint ventures, net	588,395	588,262
Operating lease right-of-use assets	203,410	204,225
Other assets	179,301	186,296
Total assets	9,691,105	9,636,472
Liabilities:
Secured debt, net	1,144,201	1,149,441
Unsecured debt, net	3,740,937	3,558,083
Operating lease liabilities	197,829	198,558
Real estate taxes payable	33,134	29,445
Accrued interest payable	31,494	45,199
Security deposits and prepaid rent	48,474	48,353
Distributions payable	115,259	109,382
Accounts payable, accrued expenses, and other liabilities	82,254	90,032
Total liabilities	5,393,582	5,228,493
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership	819,133	1,018,665
Equity:
Common stock, $0.01 par value; 350,000,000 shares authorized: 294,881,038 and 294,588,305 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	2,949	2,946
Additional paid-in capital	5,788,471	5,781,975
Distributions in excess of net income	(2,360,636)	(2,462,132)
Accumulated other comprehensive income/(loss), net	(12,870)	(10,448)
Total stockholders' equity	3,464,115	3,358,542
Noncontrolling interests	14,275	30,772
Total equity	3,478,390	3,389,314
Total liabilities and equity	9,691,105	9,636,472
8.00% Series E Cumulative Convertible Preferred Stock
Equity:
Preferred stock, no par value; 50,000,000 shares authorized:	46,200	46,200
Series F
Equity:
Preferred stock, no par value; 50,000,000 shares authorized:	$ 1	$ 1