Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investment in real estate:
Land	$ 1,163,987	$ 1,163,987
Land improvements	2,903,564	2,893,759
Buildings and other depreciable property	635,248	627,590
Investment in real estate	4,702,799	4,685,336
Accumulated depreciation	(1,429,999)	(1,399,531)
Net investment in real estate	3,272,800	3,285,805
Cash	73,248	56,340
Notes receivable, net	34,239	34,520
Investment in unconsolidated joint ventures	19,187	19,369
Deferred commission expense	31,357	31,375
Escrow deposits, goodwill, and other assets, net	40,210	51,578
Total Assets	3,471,041	3,478,987
Liabilities:
Mortgage notes payable, net	1,859,890	1,891,900
Term loan	199,431	199,379
Unsecured lines of credit	0	0
Accrued expenses and accounts payable	85,554	89,864
Deferred revenue – upfront payments from right-to-use contracts	82,264	81,484
Deferred revenue – right-to-use annual payments	13,316	9,817
Accrued interest payable	8,212	8,379
Rents and other customer payments received in advance and security deposits	77,398	76,906
Distributions payable	45,230	39,411
Total Liabilities	2,371,295	2,397,140
Stockholders’ Equity:
Preferred stock value	0	0
Common stock, $0.01 par value	866	854
Paid-in capital	1,117,628	1,103,048
Distributions in excess of accumulated earnings	(216,724)	(231,276)
Accumulated other comprehensive loss	(1)	(227)
Total Stockholders’ Equity	1,037,913	1,008,543
Non-controlling interests – Common OP Units	61,833	73,304
Total Equity	1,099,746	1,081,847
Total Liabilities and Equity	3,471,041	3,478,987
6.75% Series C Cumulative Redeemable Perpetual Preferred Stock
Stockholders’ Equity:
Preferred stock value	$ 136,144	$ 136,144