Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets
Land	$ 1,784,349	$ 1,787,445
Buildings and improvements	11,801,301	11,792,960
Real estate assets, at cost, total	13,585,650	13,580,405
Accumulated depreciation	(5,407,880)	(5,296,061)
Net operating real estate assets	8,177,770	8,284,344
Properties under development and land	457,994	419,227
Total real estate assets	8,635,764	8,703,571
Accounts receivable – affiliates	8,076	8,884
Other assets, net	285,493	293,292
Cash and cash equivalents	40,684	25,203
Restricted cash	89,610	12,039
Total assets	9,059,627	9,042,989
Liabilities
Unsecured notes payable	3,931,761	3,570,193
Secured notes payable	318,708	330,597
Accounts payable and accrued expenses	269,623	248,087
Accrued real estate taxes	59,818	92,382
Distributions payable	112,156	114,971
Other liabilities	262,710	248,506
Total liabilities	4,954,776	4,604,736
Commitments and contingencies (Note 9)
Equity
Common shares of beneficial interest; $0.01 par value per share; 175,000,000 shares authorized; 117,767,773 and 117,737,767 issued at March 31, 2026 and December 31, 2025, respectively; 115,734,377 and 115,711,964 outstanding at March 31, 2026 and December 31, 2025, respectively	1,157	1,157
Additional paid-in capital	5,948,511	5,948,938
Distributions in excess of net income attributable to common shareholders	(1,037,252)	(969,240)
Treasury shares, at cost (13,792,716 and 11,373,251 common shares at March 31, 2026 and December 31, 2025, respectively)	(886,052)	(620,497)
Accumulated other comprehensive income	2,522	2,165
Total common equity	4,028,886	4,362,523
Non-controlling interests	75,965	75,730
Total equity	4,104,851	4,438,253
Total liabilities and equity	$ 9,059,627	$ 9,042,989