CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Land	$ 5,581,876	$ 5,580,878
Depreciable property	22,938,426	22,334,369
Projects under development	78,036	112,940
Land held for development	114,300	60,567
Investment in real estate	28,712,638	28,088,754
Accumulated depreciation	(9,810,337)	(9,027,850)
Investment in real estate, net	18,902,301	19,060,904
Investments in unconsolidated entities	282,049	279,024
Cash and cash equivalents	50,743	53,869
Restricted deposits	89,252	83,303
Right-of-use assets	457,266	462,956
Other assets	252,953	278,206
Total assets	20,034,564	20,218,262
Liabilities:
Mortgage notes payable, net	1,632,902	1,953,438
Notes, net	5,348,417	5,342,329
Line of credit and commercial paper	409,131	129,955
Accounts payable and accrued expenses	104,430	96,028
Accrued interest payable	65,716	66,310
Lease liabilities	311,640	308,748
Other liabilities	255,543	306,941
Security deposits	69,178	68,940
Distributions payable	259,231	244,621
Total liabilities	8,456,188	8,517,310
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	289,248	318,273
Shareholders' equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of December 31, 2023 and December 31, 2022	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 379,291,417 shares issued and outstanding as of December 31, 2023 and 378,429,708 shares issued and outstanding as of December 31, 2022	3,793	3,784
Paid in capital	9,601,866	9,476,085
Retained earnings	1,437,185	1,658,837
Accumulated other comprehensive income (loss)	5,704	(2,547)
Total shareholders’ equity	11,085,828	11,173,439
Noncontrolling Interests:
Operating Partnership	202,306	209,961
Partially Owned Properties	994	(721)
Total Noncontrolling Interests	203,300	209,240
Total equity	11,289,128	11,382,679
Total liabilities and equity/capital	$ 20,034,564	$ 20,218,262