Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Investment in real estate:
Land	$ 2,025,609	$ 2,019,787
Land improvements	3,962,367	3,912,062
Buildings and other depreciable property	1,083,942	1,057,215
Investment in real estate	7,071,918	6,989,064
Accumulated depreciation	(2,150,238)	(2,103,774)
Net investment in real estate	4,921,680	4,885,290
Cash and restricted cash	38,120	123,398
Notes receivable, net	40,542	39,955
Investment in unconsolidated joint ventures	79,688	70,312
Deferred commission expense	47,859	47,349
Other assets, net	136,916	141,567
Total Assets	5,264,805	5,307,871
Liabilities:
Mortgage notes payable, net	2,598,830	2,627,783
Term loan, net	496,148	297,436
Unsecured line of credit	69,000	349,000
Accounts payable and other liabilities	166,435	172,285
Deferred membership revenue	182,181	176,439
Accrued interest payable	9,175	9,293
Rents and other customer payments received in advance and security deposits	132,412	118,696
Distributions payable	80,287	70,768
Total Liabilities	3,734,468	3,821,700
Stockholders' Equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized as of March 31, 2022 and December 31, 2021; none issued and outstanding.	0	0
Common stock, $0.01 par value, 600,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 186,006,354 and 185,640,379 shares issued and outstanding as of March 31, 2022, and December 31, 2021, respectively.	1,916	1,913
Paid-in capital	1,619,164	1,593,362
Distributions in excess of accumulated earnings	(177,158)	(183,689)
Accumulated other comprehensive income	13,448	3,524
Total Stockholders’ Equity	1,457,370	1,415,110
Non-controlling interests – Common OP Units	72,967	71,061
Total Equity	1,530,337	1,486,171
Total Liabilities and Equity	$ 5,264,805	$ 5,307,871