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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Real estate investments:    
Income producing property $ 1,756,836 $ 1,680,943
Held for development 11,294 13,607
Construction in progress 37,167 63,367
Gross real estate investments 1,805,297 1,757,917
Accumulated depreciation (278,010) (253,965)
Net real estate investments 1,527,287 1,503,952
Real estate investments held for sale 0 1,165
Cash and cash equivalents 43,493 40,998
Restricted cash 9,749 [1] 9,432
Accounts receivable, net 30,227 28,259
Notes receivable, net 112,446 135,432
Construction receivables, including retentions, net 13,823 38,735
Construction contract costs and estimated earnings in excess of billings 85 138
Equity method investment 6,999 1,078
Operating lease right-of-use assets 32,640 32,760
Finance lease right-of-use assets 47,544 23,544
Acquired lease intangible assets 55,807 58,154
Other assets 40,358 43,324
Total Assets 1,920,458 1,916,971
LIABILITIES AND EQUITY    
Indebtedness, net 964,396 963,845
Accounts payable and accrued liabilities 20,395 23,900
Construction payables, including retentions 18,470 49,821
Billings in excess of construction contract costs and estimated earnings 4,137 6,088
Operating lease liabilities 41,719 41,659
Finance lease liabilities 45,997 17,954
Other liabilities 57,725 56,902
Total Liabilities 1,152,839 1,160,169
Stockholders’ equity:    
Preferred stock, $0.01 par value, 100,000,000 shares authorized: 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock, 9,980,000 shares authorized, 6,843,418 shares issued and outstanding as of June 30, 2021 and December 31, 2020 171,085 171,085
Common stock, $0.01 par value, 500,000,000 shares authorized; 60,991,603 and 59,073,220 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 610 591
Additional paid-in capital 496,111 472,747
Distributions in excess of earnings (124,697) (112,356)
Accumulated other comprehensive loss (5,914) (8,868)
Total stockholders’ equity 537,195 523,199
Noncontrolling interests in investment entities 634 488
Noncontrolling interests in Operating Partnership 229,790 233,115
Total Equity 767,619 756,802
Total Liabilities and Equity $ 1,920,458 $ 1,916,971
[1] Restricted cash represents amounts held by lenders for real estate taxes, insurance, and reserves for capital improvements.