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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Investments in real estate:    
Real estate — Land, buildings and improvements $ 1,285,128 $ 1,200,645
Operating real estate — Land, buildings and improvements 589,142 512,485
Real estate under construction 216,383 235,751
Net investments in direct financing leases 30,446 42,054
In-place lease and other intangible assets 284,780 284,097
Investments in real estate 2,405,879 2,275,032
Accumulated depreciation and amortization (373,881) (328,312)
Net investments in real estate 2,031,998 1,946,720
Cash and cash equivalents 48,535 144,148
Accounts receivable and other assets, net 143,496 143,935
Total assets [1] 2,224,029 2,234,803
Liabilities and Equity    
Non-recourse secured debt, net 1,241,910 1,201,913
Accounts payable, accrued expenses and other liabilities 148,073 147,098
Due to affiliates 9,078 11,376
Distributions payable 8,869 22,745
Total liabilities [1] 1,407,930 1,383,132
Commitments and contingencies (Note 10)
Preferred stock, $0.001 par value; 50,000,000 shares authorized; none issued 0 0
Additional paid-in capital 1,333,723 1,319,584
Distributions and accumulated losses (523,819) (470,326)
Accumulated other comprehensive loss (48,807) (56,535)
Total stockholders’ equity 761,247 792,872
Noncontrolling interests 54,852 58,799
Total equity 816,099 851,671
Total liabilities and equity 2,224,029 2,234,803
Class A common stock    
Liabilities and Equity    
Common stock 118 117
Class C common stock    
Liabilities and Equity    
Common stock $ 32 $ 32
[1] See Note 2 for details related to variable interest entities (“VIEs”).