CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Real estate, at cost	$ 1,017,684	$ 954,390
Real estate subject to sales contracts at cost, net of depreciation	48,919	49,155
Less accumulated depreciation	(165,597)	(150,038)
Total real estate	901,006	853,507
Notes and interest receivable
Performing (including $125,799 in 2016 and $125,915 in 2015 from related parties)	143,601	137,280
Less allowance for estimated losses (including $15,537 in 2016 and $15,537 in 2015 from related parties)	(17,037)	(17,037)
Total notes and interest receivable	126,564	120,243
Cash and cash equivalents	17,522	15,232
Restricted cash	38,399	45,711
Investments in unconsolidated subsidiaries and investees	6,087	8,365
Receivable from related party	24,672	28,147
Other assets	60,659	46,163
Total assets	1,174,909	1,117,368
Liabilities:
Notes and interest payable	845,107	797,962
Notes related to assets held for sale	376	376
Notes related to assets subject to sales contracts	5,612	6,422
Deferred revenue (including $70,935 in 2016 and $70,892 in 2015 from sales to related parties)	91,380	91,336
Accounts payable and other liabilities (including $10,854 in 2016 and $7,236 in 2015 to related parties)	56,303	44,383
Total Liabilities	998,778	940,479
Shareholders' equity:
Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued and outstanding 2,000,614 shares in 2016 and 2015 (liquidation preference $10 per share), including 900,000 shares in 2016 and 2015 held by ARL	2,205	2,205
Common stock, $0.01 par value, authorized 100,000,000 shares; issued 15,930,145 shares and outstanding 15,514,360 shares in 2016 and 2015, including 140,000 shares held by TCI (consolidated) in 2016 and 2015	159	156
Treasury stock at cost; 415,785 shares in 2016 and 2015, and 140,000 shares held by TCI (consolidated) as of 2016 and 2015	(6,395)	(6,395)
Paid-in capital	111,510	109,861
Retained earnings	14,398	17,130
Total American Realty Investors, Inc. shareholders' equity	121,877	122,957
Non-controlling interest	54,254	53,932
Total equity	176,131	176,889
Total liabilities and equity	$ 1,174,909	$ 1,117,368