CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Real estate properties:
Land	$ 269,332	$ 267,855
Buildings and improvements	1,660,379	1,620,905
Total real estate properties, gross	1,929,711	1,888,760
Accumulated depreciation	(331,069)	(296,804)
Total real estate properties, net	1,598,642	1,591,956
Equity investment in Select Income REIT	475,265	487,708
Assets of discontinued operations	0	12,541
Acquired real estate leases, net	99,953	124,848
Deposit escrow for FPO acquisition	651,696	0
Cash and cash equivalents	551,707	29,941
Restricted cash	509	530
Rents receivable, net	47,461	48,458
Deferred leasing costs, net	22,250	21,079
Other assets, net	89,484	68,005
Total assets	3,536,967	2,385,066
LIABILITIES AND SHAREHOLDERS’ EQUITY
Unsecured revolving credit facility	565,000	160,000
Unsecured term loans, net	547,682	547,171
Senior unsecured notes, net	943,543	646,844
Mortgage notes payable, net	26,561	27,837
Liabilities of discontinued operations	0	45
Accounts payable and other liabilities	63,525	54,019
Due to related persons	4,297	3,520
Assumed real estate lease obligations, net	8,832	10,626
Total liabilities	2,159,440	1,450,062
Commitments and contingencies
Shareholders’ equity:
Common shares of beneficial interest, $.01 par value: 150,000,000 and 100,000,000 shares authorized, 99,145,921 and 71,177,906 shares issued and outstanding, respectively	991	712
Additional paid in capital	1,968,249	1,473,533
Cumulative net income	126,410	96,329
Cumulative other comprehensive income	46,980	26,957
Cumulative common distributions	(765,103)	(662,527)
Total shareholders’ equity	1,377,527	935,004
Total liabilities and shareholders’ equity	$ 3,536,967	$ 2,385,066