CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Real estate:
Land and improvements	$ 3,465,650	$ 3,251,780
Buildings and improvements	12,317,304	11,007,775
Furniture, fixtures and equipment	404,103	338,813
Total Capitalized Cost	16,187,057	14,598,368
Less accumulated depreciation	(2,891,254)	(2,455,790)
Net operating real estate	13,295,803	12,142,578
Construction in progress, including land	1,417,246	1,582,876
Land held for development	180,516	300,364
Operating real estate assets held for sale, net	42,175	258,391
Total real estate, net	14,935,740	14,284,209
Cash and cash equivalents	509,460	281,355
Cash in escrow	95,625	98,564
Resident security deposits	29,617	26,672
Investments in unconsolidated real estate entities	298,315	367,866
Deferred financing costs, net	39,728	40,460
Deferred development costs	67,029	31,592
Prepaid expenses and other assets	201,209	197,425
Total assets	16,176,723	15,328,143
LIABILITIES AND EQUITY
Unsecured notes, net	2,993,265	2,594,709
Variable rate unsecured credit facility	0	0
Mortgage notes payable	3,532,587	3,539,642
Dividends payable	153,207	138,476
Payables for construction	101,946	94,632
Accrued expenses and other liabilities	244,821	240,337
Accrued interest payable	41,318	42,854
Resident security deposits	49,502	44,594
Liabilities related to real estate assets held for sale	907	15,852
Total liabilities	7,117,553	6,711,096
Redeemable noncontrolling interests	12,765	17,320
Equity:
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at December 31, 2014 and 2013; zero shares issued and outstanding at December 31, 2014 and 2013	0	0
Common stock, $0.01 par value; 280,000,000 shares authorized at December 31, 2014 and 2013; 132,050,382 and 129,416,695 shares issued and outstanding at December 31, 2014 and 2013, respectively	1,320	1,294
Additional paid-in capital	9,354,685	8,988,723
Accumulated earnings less dividends	(267,085)	(345,254)
Accumulated other comprehensive loss	(42,515)	(48,631)
Total stockholders' equity	9,046,405	8,596,132
Noncontrolling interest	0	3,595
Total equity	9,046,405	8,599,727
Total liabilities and equity	$ 16,176,723	$ 15,328,143