| Assets | — | — |
| Real estate owned | — | — |
| Real estate held for investment | 15,994,794a | 15,757,456a |
| Less: accumulated depreciation | -6,836,920a | -6,242,686a |
| Real estate held for investment, net | 9,157,874a | 9,514,770a |
| Real estate under development | 0a | 160,220a |
| Real estate held for disposition | 154,463a | 81,039a |
| Total real estate owned, net of accumulated depreciation | 9,312,337a | 9,756,029a |
| Cash and cash equivalents | 1,326a | 2,922a |
| Restricted cash | 34,101a | 31,944a |
| Notes receivable, net | 247,849a | 228,825a |
| Investment in and advances to unconsolidated joint ventures, net | 917,483a | 952,934a |
| Operating lease right-of-use assets | 186,997a | 190,619a |
| Other assets | 197,493a | 209,969a |
| Total assets | 10,897,586a | 11,373,242a |
| Liabilities and equity | — | — |
| Liabilities | — | — |
| Secured debt, net | 1,139,331a | 1,277,713a |
| Unsecured debt, net | 4,687,634a | 4,520,996a |
| Operating lease liabilities | 182,275a | 185,836a |
| Real estate taxes payable | 46,403a | 47,107a |
| Accrued interest payable | 52,631a | 47,710a |
| Security deposits and prepaid rent | 61,592a | 50,528a |
| Distributions payable | 151,720a | 149,600a |
| Accounts payable, accrued expenses, and other liabilities | 115,105a | 141,311a |
| Total liabilities | 6,436,691a | 6,420,801a |
| Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | 1,017,355a | 961,087a |
| Equity | — | — |
| Preferred stock | — | — |
| 8.00% Series E cumulative convertible | 43,192a | 44,614a |
| Series F | 1a | 1a |
| Common stock | 3,309a | 3,290a |
| Additional paid-in capital | 7,572,480a | 7,493,217a |
| Distributions in excess of net income | -4,179,415a | -3,554,892a |
| Accumulated other comprehensive income/(loss), net | 3,638a | 4,914a |
| Total stockholders’ equity | 3,443,205a | 3,991,144a |
| Noncontrolling interests | 335a | 210a |
| Total equity | 3,443,540a | 3,991,354a |
| Total liabilities and equity | 10,897,586a | 11,373,242a |