Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real estate investments:
Income producing property	$ 579,000	$ 513,918
Held for development	1,180
Construction in progress	53,411	81,082
Gross real estate investments	633,591	595,000
Accumulated depreciation	(125,380)	(116,099)
Net real estate investments	508,211	478,901
Real estate investments held for sale	40,232	8,538
Cash and cash equivalents	26,989	25,883
Restricted cash	2,824	4,224
Accounts receivable, net	21,982	20,548
Notes receivable	7,825
Construction receivables, including retentions	36,535	19,432
Construction contract costs and estimated earnings in excess of billings	88	272
Other assets	44,861	30,224
Total Assets	689,547	588,022
LIABILITIES AND EQUITY
Indebtedness, net	377,593	356,345
Accounts payable and accrued liabilities	6,472	8,358
Construction payables, including retentions	52,067	42,399
Billings in excess of construction contract costs and estimated earnings	2,224	1,053
Other liabilities	25,471	17,961
Total Liabilities	463,827	426,116
Stockholders' equity:
Common stock, $0.01 par value, 500,000,000 shares authorized, 30,076,359 and 25,022,701 shares issued and outstanding as of December 31, 2015 and 2014, respectively	300	250
Additional paid-in capital	102,906	51,472
Distributions in excess of earnings	(53,010)	(54,413)
Accumulated other comprehensive loss	(648)
Total stockholders’ equity (deficit)	49,548	(2,691)
Noncontrolling interests	176,172	164,597
Total Equity	225,720	161,906
Total Liabilities and Equity	$ 689,547	$ 588,022