Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Real estate investments:
Income producing property	$ 910,686	$ 894,078
Held for development	680	680
Construction in progress	83,071	13,529
Real estate investments	994,437	908,287
Accumulated depreciation	(164,521)	(139,553)
Net real estate investments	829,916	768,734
Cash and cash equivalents	19,959	21,942
Restricted cash	2,957	3,251
Accounts receivable, net	15,691	15,052
Notes receivable	83,058	59,546
Construction receivables, including retentions	23,933	39,433
Construction contract costs and estimated earnings in excess of billings	245	110
Equity method investments	11,411	10,235
Other assets	55,953	64,165
Total Assets	1,043,123	982,468
LIABILITIES AND EQUITY
Indebtedness, net	517,272	522,180
Accounts payable and accrued liabilities	15,180	10,804
Construction payables, including retentions	47,445	51,130
Billings in excess of construction contract costs and estimated earnings	3,591	10,167
Other liabilities	39,352	39,209
Total Liabilities	622,840	633,490
Stockholders’ equity:
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued and outstanding as of December 31, 2017 and 2016, respectively	0	0
Common stock, $0.01 par value, 500,000,000 shares authorized, 44,937,763 and 37,490,361 shares issued and outstanding as of December 31, 2017 and 2016, respectively	449	374
Additional paid-in capital	287,407	197,114
Distributions in excess of earnings	(61,166)	(49,345)
Total stockholders’ equity	226,690	148,143
Noncontrolling interests	193,593	200,835
Total Equity	420,283	348,978
Total Liabilities and Equity	$ 1,043,123	$ 982,468