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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:          
Net income $ 447,977 $ 170,869 $ 590,211 $ 338,875  
Adjustments to reconcile net income to cash provided by operating activities:          
Depreciation expense 184,472 176,249 367,769 354,160  
Amortization of deferred financing costs     3,675 3,720  
Amortization of debt discount     1,320 833  
(Gain) loss on extinguishment of debt, net 0 (268) 122 (9,438)  
Amortization of stock-based compensation     13,185 11,870  
Equity in loss of, and return on, unconsolidated real estate entities and noncontrolling interests, net of eliminations     2,989 3,705  
Real estate casualty loss     831 0  
Abandonment of development pursuits     685 2,095  
Unrealized gain on terminated cash flow hedges     (2,654) 0 $ 2,894
Cash flow hedge losses reclassified to earnings     4,733 4,250  
Gain on sale of real estate assets     (412,060) (59,930)  
Gain on for-sale condominiums     (706) (7,446)  
Increase in resident security deposits, prepaid expenses and other assets     (16,329) (13,595)  
Increase in accrued expenses, other liabilities and accrued interest payable     15,102 (19,058)  
Net cash provided by operating activities     568,629 628,917  
Cash flows from investing activities:          
Payments to Develop Real Estate Assets     (325,692) (383,139)  
Development/redevelopment of real estate assets including land acquisitions and deferred development costs     (118,572) 0  
Capital expenditures - existing real estate assets     (57,157) (51,858)  
Capital expenditures - non-real estate assets     (2,584) (14,461)  
Decrease in payables for construction     (27,294) (11,547)  
Proceeds from sale of real estate, net of selling costs     575,431 132,882  
Proceeds from the sale of for-sale condominiums, net of selling costs     48,655 155,217  
Mortgage note receivable lending     (113) (209)  
Mortgage note receivable payments     1,556 2,238  
Distributions from unconsolidated real estate entities     22,331 0  
Investments in unconsolidated real estate entities     (27,356) (14,251)  
Net cash provided by (used in) investing activities     89,205 (185,128)  
Cash flows from financing activities:          
Issuance of common stock, net     2,372 1,613  
Dividends paid     (444,572) (437,326)  
Issuance of mortgage notes payable     0 51,000  
Repayments of mortgage notes payable, including prepayment penalties     (34,734) (56,852)  
Issuance of unsecured notes     0 1,296,581  
Repayment of unsecured notes, including prepayment penalties     0 (958,680)  
Payment of deferred financing costs     0 (11,276)  
Receipt (payment) for termination of forward interest rate swaps     6,962 (25,135)  
Payment to noncontrolling interest     (33) (42)  
Payments related to tax withholding for share-based compensation     (13,228) (14,750)  
Distributions to DownREIT partnership unitholders     (24) (24)  
Distributions to joint venture and profit-sharing partners     (164) (218)  
Preferred interest obligation redemption and dividends     (840) (600)  
Net cash used in financing activities     (484,261) (155,709)  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total     173,573 288,080  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance     313,532 127,614 127,614
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 487,105 415,694 487,105 415,694 313,532
Cash paid during the period for interest, net of amount capitalized     101,703 103,328  
Supplemental Cash Flow Information [Abstract]          
Cash and cash equivalents 297,036 322,817 297,036 322,817 216,976
Cash in escrow 190,069 92,877 190,069 92,877 96,556
Cash, cash equivalents and cash in escrow reported in the Condensed Consolidated Statements of Cash Flows $ 487,105 $ 415,694 $ 487,105 $ 415,694 $ 313,532