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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Real estate investments:    
Income producing property $ 1,744,124 $ 1,680,943
Held for development 11,294 13,607
Construction in progress 54,871 63,367
Gross real estate investments 1,810,289 1,757,917
Accumulated depreciation (278,218) (253,965)
Net real estate investments 1,532,071 1,503,952
Real estate investments held for sale 68,762 1,165
Cash and cash equivalents 28,038 40,998
Restricted cash 5,415 [1] 9,432
Accounts receivable, net 30,576 28,259
Notes receivable, net 118,164 135,432
Construction receivables, including retentions, net 13,753 38,735
Construction contract costs and estimated earnings in excess of billings 370 138
Equity method investment 9,174 1,078
Operating lease right-of-use assets 23,547 32,760
Finance lease right-of-use assets 47,266 23,544
Acquired lease intangible assets 65,197 58,154
Other assets 42,051 43,324
Total Assets 1,984,384 1,916,971
LIABILITIES AND EQUITY    
Indebtedness, net 968,424 963,845
Liabilities related to assets held for sale 60,021 0
Accounts payable and accrued liabilities 26,549 23,900
Construction payables, including retentions 22,078 49,821
Billings in excess of construction contract costs and estimated earnings 2,674 6,088
Operating lease liabilities 31,607 41,659
Finance lease liabilities 46,078 17,954
Other liabilities 62,197 56,902
Total Liabilities 1,219,628 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 September 30, 2021 and December 31, 2020 171,085 171,085
Common stock, $0.01 par value, 500,000,000 shares authorized; 61,324,232 and 59,073,220 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 613 591
Additional paid-in capital 500,889 472,747
Distributions in excess of earnings (130,904) (112,356)
Accumulated other comprehensive loss (5,420) (8,868)
Total stockholders’ equity 536,263 523,199
Noncontrolling interests in investment entities 634 488
Noncontrolling interests in Operating Partnership 227,859 233,115
Total Equity 764,756 756,802
Total Liabilities and Equity $ 1,984,384 $ 1,916,971
[1] Restricted cash represents amounts held by lenders for real estate taxes, insurance, and reserves for capital improvements.