CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Land	$ 5,918,994	$ 5,875,803
Depreciable property	20,691,304	20,435,901
Projects under development	135,191	109,409
Land held for development	91,647	89,909
Investment in real estate	26,837,136	26,511,022
Accumulated depreciation	(6,900,496)	(6,696,281)
Investment in real estate, net	19,936,640	19,814,741
Investments in unconsolidated entities	62,853	58,349
Cash and cash equivalents	29,391	47,442
Restricted deposits	64,115	68,871
Right-of-use assets	434,683	0
Other assets	241,129	404,806
Total assets	20,768,811	20,394,209
Liabilities:
Mortgage notes payable, net	2,671,491	2,385,470
Notes, net	5,936,335	5,933,286
Line of credit and commercial paper	344,844	499,183
Accounts payable and accrued expenses	152,831	102,471
Accrued interest payable	74,028	62,622
Lease liabilities	282,237	0
Other liabilities	321,172	358,563
Security deposits	68,335	67,258
Distributions payable	218,471	206,601
Total liabilities	10,069,744	9,615,454
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	432,562	379,106
Shareholders’ equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of March 31, 2019 and December 31, 2018	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 370,462,401 shares issued and outstanding as of March 31, 2019 and 369,405,161 shares issued and outstanding as of December 31, 2018	3,705	3,694
Paid in capital	8,925,882	8,935,453
Retained earnings	1,155,032	1,261,763
Accumulated other comprehensive income (loss)	(75,013)	(64,986)
Total shareholders’ equity	10,046,886	10,173,204
Noncontrolling Interests:
Operating Partnership	225,081	228,738
Partially Owned Properties	(5,462)	(2,293)
Total Noncontrolling Interests	219,619	226,445
Total equity	10,266,505	10,399,649
Total liabilities and equity/capital	$ 20,768,811	$ 20,394,209