Cash, Cash Equivalents and Restricted Cash

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Restricted Cash

Restricted cash primarily consists of funds held related to resident security deposits, cash reserves in accordance with certain loan agreements and funds held in the custody of our transfer agent for the payment of distributions. Funds held related to resident security deposits are restricted during the term of the related lease agreement, which is generally one year. Cash reserved in connection with lender requirements is restricted during the term of the related debt instrument.

The following table provides a reconciliation of cash, cash equivalents and restricted cash per the condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets (amounts in thousands):


	March 31,				December 31,
	2023		2022		2022		2021
Cash and cash equivalents	$	255,559	$	56,626	$	69,155	$	48,198
Restricted cash	153,256		150,354		148,805		143,569
Total cash, cash equivalents and restricted cash	$	408,815	$	206,980	$	217,960	$	191,767