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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income/(loss) $ 15,809 $ 67,636
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:    
Depreciation and amortization 295,460 314,584
(Gain)/loss on sale of real estate owned (50,829) (61,303)
(Income)/loss from unconsolidated entities (14,673) (11,388)
Return on investment in unconsolidated joint ventures 16,597 2,016
Amortization of share-based compensation 11,310 10,808
Loss on extinguishment of debt, net 41,950  
Other 15,754 8,203
Changes in operating assets and liabilities:    
(Increase)/decrease in operating assets 925 (20,282)
Increase/(decrease) in operating liabilities (2,146) 6,741
Net cash provided by/(used in) operating activities 330,157 317,015
Investing Activities    
Acquisition of real estate assets (295,301) (141,727)
Proceeds from sales of real estate investments, net 154,857 133,934
Development of real estate assets (74,515) (63,010)
Capital expenditures and other major improvements - real estate assets (66,103) (64,083)
Capital expenditures - non-real estate assets (7,154) (7,358)
Investment in unconsolidated joint ventures (53,706) (20,041)
Distributions received from unconsolidated joint ventures 33,345 5,731
Purchase deposits on pending acquisitions (5,100)  
Repayment/(issuance) of notes receivable, net (1,060) (5,340)
Net cash provided by/(used in) investing activities (314,737) (161,894)
Financing Activities    
Payments on secured debt (543) (31,621)
Payments on unsecured debt (300,000)  
Net proceeds from the issuance of unsecured debt 298,776 211,320
Net proceeds/(repayment) of commercial paper 280,000 (115,000)
Net proceeds/(repayment) of revolving bank debt (706) 597
Distributions paid to redeemable noncontrolling interests (16,899) (15,782)
Distributions paid to preferred stockholders (2,109) (2,115)
Distributions paid to common stockholders (214,433) (207,095)
Payment of prepayment and extinguishment costs (40,769)  
Other (6,838) (5,840)
Net cash provided by/(used in) financing activities (3,521) (165,536)
Net increase/(decrease) in cash, cash equivalents, and restricted cash 11,899 (10,415)
Cash, cash equivalents, and restricted cash, beginning of year 24,171 33,291
Cash, cash equivalents, and restricted cash, end of period 36,070 22,876
Supplemental Information:    
Interest paid during the period, net of amounts capitalized 71,006 78,170
Operating cash flows from operating leases 6,251 6,251
Cash paid/(refunds received) for income taxes 3,013 1,324
Non-cash transactions:    
Secured debt assumed upon acquisition of real estate assets 201,296  
Acquisition of land parcel pursuant to a deed in lieu of foreclosure 25,000  
Cancellation of secured note receivable pursuant to a deed in lieu of foreclosure 24,869  
Transfer of investment in and advances to unconsolidated joint ventures to real estate owned   14,700
Acquisition of intellectual property in exchange for cancellation of secured note receivable   2,250
Recognition of allowance for credit losses   2,182
Vesting of LTIP Units 14,576 23,018
Development costs and capital expenditures incurred, but not yet paid 38,541 26,400
Conversion of Operating Partnership and DownREIT Partnership noncontrolling interests to common stock (136,206 shares in 2021 and 261,196 shares in 2020) 5,339 11,250
Dividends declared, but not yet paid $ 116,688 $ 115,254