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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Real estate properties:    
Land $ 741,501 $ 789,125
Buildings and improvements 6,072,055 6,621,605
Total real estate properties, gross 6,813,556 7,410,730
Accumulated depreciation (1,737,807) (1,694,901)
Total real estate properties, net 5,075,749 5,715,829
Investment in unconsolidated joint venture 215,127 0
Assets of properties held for sale 0 112,437
Cash and cash equivalents 634,848 74,417
Restricted cash [1] 382,097 16,432
Investments in equity securities 31,540 73,772
Acquired real estate leases and other intangible assets, net 48,746 286,513
Other assets, net 235,407 197,024
Total assets 6,623,514 6,476,424
LIABILITIES AND SHAREHOLDERS' EQUITY    
Revolving credit facility 800,000 0
Term loan, net 0 199,049
Senior unsecured notes, net 2,806,811 2,608,189
Secured debt and finance leases, net 69,713 691,573
Liabilities of properties held for sale 0 3,525
Accrued interest 29,845 23,772
Due to affiliates 8,270 24,547
Assumed real estate lease obligations, net 2,556 67,830
Other liabilities 243,929 238,717
Total liabilities 3,961,124 3,857,202
Commitments and contingencies
Equity attributable to common shareholders:    
Common shares of beneficial interest, $.01 par value: 300,000,000 shares authorized, 238,994,894 and 238,268,478 shares issued and outstanding, respectively 2,390 2,383
Additional paid in capital 4,615,475 4,613,904
Cumulative net income 2,087,624 1,913,109
Cumulative distributions (4,043,099) (4,033,559)
Total equity attributable to common shareholders 2,662,390 2,495,837
Noncontrolling interest:    
Total equity attributable to noncontrolling interest 0 123,385
Total equity 2,662,390 2,619,222
Total liabilities and equity $ 6,623,514 $ 6,476,424
[1] As of December 31, 2021, restricted cash consists of proceeds from the sale of an interest in the joint venture that owns a life science property located in Boston, Massachusetts held as collateral pursuant to the agreement governing our revolving credit facility, or our credit agreement. We may use these funds to pay for approved expenditures in accordance with our credit agreement. Effective as of the date of the sale, we deconsolidated this joint venture. Prior to the deconsolidation, restricted cash consisted primarily of cash held for the operations of this joint venture. Restricted cash also consists of amounts escrowed for real estate taxes, insurance and capital expenditures at certain of our mortgaged properties.