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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real estate properties:    
Land $ 652,302 $ 741,501
Buildings and improvements 5,760,881 6,072,055
Total real estate properties, gross 6,413,183 6,813,556
Accumulated depreciation (1,689,680) (1,737,807)
Total real estate properties, net 4,723,503 5,075,749
Investments in unconsolidated joint ventures 266,741 215,127
Cash and cash equivalents 732,058 634,848
Restricted cash 759,938 [1] 382,097
Acquired real estate leases and other intangible assets, net 40,231 48,746
Other assets, net 252,908 266,947
Total assets 6,775,379 6,623,514
Liabilities and Shareholders' Equity    
Revolving credit facility 700,000 800,000
Senior unsecured notes, net 2,808,467 2,806,811
Secured debt and finance leases, net 68,731 69,713
Accrued interest 45,579 29,845
Assumed real estate lease obligations, net 1,384 2,556
Other liabilities 250,485 252,199
Total liabilities 3,874,646 3,961,124
Commitments and contingencies
Shareholders' equity:    
Common shares of beneficial interest, $.01 par value: 300,000,000 shares authorized, 238,988,296 and 238,994,894 shares issued and outstanding, respectively 2,390 2,390
Additional paid in capital 4,615,785 4,615,475
Cumulative net income 2,328,047 2,087,624
Cumulative distributions (4,045,489) (4,043,099)
Total shareholders' equity 2,900,733 2,662,390
Total liabilities and shareholders' equity $ 6,775,379 $ 6,623,514
[1] As of March 31, 2022, restricted cash consists of proceeds from the sale of joint venture interests and proceeds from the sale of properties to joint ventures 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. Restricted cash also consists of amounts escrowed for real estate taxes, insurance and capital expenditures at certain of our mortgaged properties. Prior to the deconsolidation of the joint venture that owns a life science property located in Boston, Massachusetts, or our Boston life science property joint venture, restricted cash also consisted of cash held for the operations of this joint venture. As of March 31, 2021, restricted cash also included amounts we used to redeem all $300,000 of our then outstanding 6.75% senior notes due 2021 in June 2021, when these notes became redeemable with no prepayment premium.