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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Investment in real estate:    
Land $ 1,969,487 $ 1,676,636
Land improvements 3,783,255 3,543,479
Buildings and other depreciable property 1,042,086 940,311
Investment in real estate 6,794,828 6,160,426
Accumulated depreciation (2,056,260) (1,924,585)
Net investment in real estate 4,738,568 4,235,841
Cash and restricted cash 40,272 24,060
Notes receivable, net 39,947 35,844
Investment in unconsolidated joint ventures 20,632 19,726
Deferred commission expense 46,748 42,472
Other assets, net 95,693 61,026
Total Assets 4,981,860 4,418,969
Liabilities:    
Mortgage notes payable, net 2,606,999 2,444,930
Term loan, net 297,288 0
Unsecured line of credit 220,000 222,000
Accounts payable and other liabilities 186,258 129,666
Deferred membership revenue 173,222 150,692
Accrued interest payable 8,879 8,336
Rents and other customer payments received in advance and security deposits 109,983 92,587
Distributions payable 70,009 66,003
Total Liabilities 3,672,638 3,114,214
Stockholders' Equity:    
Preferred stock, $0.01 par value, 10,000,000 shares authorized as of September 30, 2021 and December 31, 2020; none issued and outstanding. 0 0
Common stock, $0.01 par value, 600,000,000 and shares authorized as of September 30, 2021 and December 31, 2020; 183,824,165 and 182,230,631 shares issued and outstanding as of September 30, 2021, and December 31, 2020, respectively. 1,828 1,813
Paid-in capital 1,427,606 1,411,397
Distributions in excess of accumulated earnings (181,941) (179,523)
Accumulated other comprehensive income (loss) 325 0
Total Stockholders’ Equity 1,247,818 1,233,687
Non-controlling interests – Common OP Units 61,404 71,068
Total Equity 1,309,222 1,304,755
Total Liabilities and Equity $ 4,981,860 $ 4,418,969