CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real estate:
Land and improvements	$ 4,336,662	$ 4,299,162
Buildings and improvements	16,818,729	16,668,496
Furniture, fixtures and equipment	875,453	829,242
Gross operating real estate	22,030,844	21,796,900
Less accumulated depreciation	(5,327,725)	(5,164,398)
Net operating real estate	16,703,119	16,632,502
Construction in progress, including land	1,273,989	1,303,751
Land held for development	38,115	0
For-sale condominium inventory	365,120	457,809
Real estate assets held for sale, net	28,296	38,927
Net operating real estate	18,408,639	18,432,989
Cash and cash equivalents	777,995	39,687
Cash in escrow	90,426	87,927
Resident security deposits	34,904	34,224
Investments in unconsolidated real estate entities	173,734	165,806
Deferred development costs	74,553	70,486
Prepaid expenses and other assets	168,741	164,971
Right of use lease assets	162,344	124,961
Total assets	19,891,336	19,121,051
LIABILITIES AND EQUITY
Unsecured notes, net	6,404,432	6,358,648
Variable rate unsecured credit facility	750,000	0
Mortgage notes payable, net	937,025	937,642
Dividends payable	225,714	215,414
Payables for construction	92,597	92,135
Accrued expenses and other liabilities	257,293	274,013
Lease liabilities	185,025	140,468
Accrued interest payable	61,931	47,154
Resident security deposits	61,717	61,752
Liabilities related to real estate assets held for sale	360	375
Total liabilities	8,976,094	8,127,601
Commitments and contingencies
Redeemable noncontrolling interests	2,700	3,252
Equity:
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at March 31, 2020 and December 31, 2019; zero shares issued and outstanding at March 31, 2020 and December 31, 2019	0	0
Common stock, $0.01 par value; 280,000,000 shares authorized at March 31, 2020 and December 31, 2019; 140,733,340 and 140,643,962 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	1,407	1,406
Additional paid-in capital	10,732,022	10,736,733
Accumulated earnings less dividends	225,656	282,913
Accumulated other comprehensive loss	(47,157)	(31,503)
Stockholders' Equity Attributable to Parent	10,911,928	10,989,549
Stockholders' Equity Attributable to Noncontrolling Interest	614	649
Total equity	10,912,542	10,990,198
Total liabilities and equity	$ 19,891,336	$ 19,121,051