CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Real estate, at cost:
Land	$ 2,425,240	$ 2,408,914
Buildings and improvements	11,076,744	10,942,418
Development costs and construction in progress	946,797	890,143
Leasehold improvements and equipment	108,582	105,080
Total	14,557,363	14,346,555
Less accumulated depreciation and amortization	(4,276,342)	(4,191,075)
Real estate, net	10,281,021	10,155,480
Right-of-use assets	669,685	671,308
Net investment in lease	166,234	166,024
Cash and cash equivalents	1,081,299	840,850
Restricted cash	130,217	136,696
Tenant and other receivables	98,031	77,137
Investments in partially owned entities	1,951,181	1,941,278
Receivable arising from the straight-lining of rents	778,704	752,545
Deferred leasing costs, net of accumulated amortization of $237,704 and $233,448	382,115	374,620
Identified intangible assets, net of accumulated amortization of $83,758 and $81,962	108,702	110,593
Other assets	272,348	294,587
Assets	15,919,537	15,521,118
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Mortgages payable, net	4,915,659	4,920,669
Senior unsecured notes, net	1,241,462	747,202
Unsecured term loan, net	839,491	797,337
Unsecured revolving credit facilities	718,000	720,420
Lease liabilities	698,066	699,640
Accounts payable and accrued expenses	367,045	376,190
Deferred compensation plan	112,758	113,778
Other liabilities	317,596	341,359
Total liabilities	9,210,077	8,716,595
Commitments and contingencies
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	526,688	647,951
Shareholders' equity:
Preferred shares of beneficial interest: no par value per share; authorized 110,000,000 shares; issued and outstanding 48,788,450 shares	1,182,345	1,182,345
Common shares of beneficial interest: $0.04 par value per share; authorized 250,000,000 shares; issued and outstanding 188,097,756 and 190,666,367 shares	7,524	7,627
Additional capital	8,407,140	8,288,363
Earnings less than distributions	(3,594,200)	(3,491,603)
Accumulated other comprehensive income (loss)	15,221	(5)
Total shareholders' / partners' equity	6,018,030	5,986,727
Noncontrolling interests in consolidated subsidiaries	164,742	169,845
Total equity	6,182,772	6,156,572
Total liabilities, redeemable noncontrolling interests / partnership units and equity	15,919,537	15,521,118
Partnership Interest
Redeemable noncontrolling interests:
Class A units - 16,946,794 and 16,650,713 units outstanding	440,447	554,136
Series D cumulative redeemable preferred units - 141,400 units outstanding	3,535	3,535
Total redeemable noncontrolling interests	443,982	557,671
Redeemable noncontrolling interest in a consolidated subsidiary
Redeemable noncontrolling interests:
Total redeemable noncontrolling interests	$ 82,706	$ 90,280