Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment in real estate:
Land	$ 1,101,685	$ 1,091,550
Land improvements	2,773,269	2,734,304
Buildings and other depreciable property	584,132	562,059
Investment in real estate	4,459,086	4,387,913
Accumulated depreciation	(1,254,085)	(1,169,492)
Net investment in real estate	3,205,001	3,218,421
Cash	89,395	73,714
Notes receivable, net	36,334	37,137
Investment in unconsolidated joint ventures	17,554	13,512
Deferred financing costs, net	24,263	21,833
Deferred commission expense	30,781	28,589
Escrow deposits, goodwill, and other assets, net	40,062	53,133
Total Assets	3,443,390	3,446,339
Liabilities:
Mortgage notes payable	1,956,246	2,012,246
Term loan	200,000	200,000
Unsecured lines of credit	0	0
Accrued expenses and accounts payable	96,900	64,520
Deferred revenue – upfront payments from right-to-use contracts	78,103	74,174
Deferred revenue – right-to-use annual payments	10,860	9,790
Accrued interest payable	8,579	9,496
Rents and other customer payments received in advance and security deposits	69,212	67,463
Distributions payable	34,314	29,623
Total Liabilities	2,454,214	2,467,312
Stockholders’ Equity:
Preferred stock value	0	0
Common stock, $0.01 par value	843	838
Paid-in capital	1,039,842	1,029,601
Distributions in excess of accumulated earnings	(253,396)	(254,209)
Accumulated other comprehensive loss	(1,612)	(381)
Total Stockholders’ Equity	921,821	911,993
Non-controlling interests – Common OP Units	67,355	67,034
Total Equity	989,176	979,027
Total Liabilities and Equity	3,443,390	3,446,339
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Stockholders’ Equity:
Preferred stock value	$ 136,144	$ 136,144