Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019		Dec. 31, 2018
Real estate investments:
Income producing property	$ 1,102,803		$ 1,037,917
Held for development	2,994		2,994
Construction in progress	145,366		135,675
Gross real estate investments	1,251,163		1,176,586
Accumulated depreciation	(196,518)		(188,775)
Net real estate investments	1,054,645		987,811
Real estate investments held for sale	929		929
Cash and cash equivalents	15,577		21,254
Restricted cash	3,382	[1]	2,797
Accounts receivable, net	18,297		19,016
Notes receivable	152,172		138,683
Construction receivables, including retentions	17,784		16,154
Construction contract costs and estimated earnings in excess of billings	317		1,358
Equity method investments	0		22,203
Lease right-of-use assets	32,242
Other assets	63,909		55,177
Total Assets	1,359,254		1,265,382
LIABILITIES AND EQUITY
Indebtedness, net	737,621		694,239
Accounts payable and accrued liabilities	15,904		15,217
Construction payables, including retentions	42,293		50,796
Billings in excess of construction contract costs and estimated earnings	3,622		3,037
Lease liabilities	41,697
Other liabilities	40,431		46,203
Total Liabilities	881,568		809,492
Stockholders’ equity:
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	0		0
Common stock, $0.01 par value, 500,000,000 shares authorized, 52,326,803 and 50,013,731 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	523		500
Additional paid-in capital	389,547		357,353
Distributions in excess of earnings	(88,949)		(82,699)
Accumulated other comprehensive loss	(1,981)		(1,283)
Total stockholders’ equity	299,140		273,871
Noncontrolling interests	178,546		182,019
Total Equity	477,686		455,890
Total Liabilities and Equity	$ 1,359,254		$ 1,265,382

[1] Restricted cash represents amounts held by lenders for real estate taxes, insurance, and reserves for capital improvements.