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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Real estate investments:    
Income producing property $ 1,791,302 $ 1,658,609
Held for development 6,294 6,294
Construction in progress 71,676 72,535
Gross real estate investments 1,869,272 1,737,438
Accumulated depreciation (303,032) (285,814)
Net real estate investments 1,566,240 1,451,624
Real estate investments held for sale 115,680 80,751
Cash and cash equivalents 69,731 35,247
Restricted cash 6,681 [1] 5,196
Accounts receivable, net 32,250 29,576
Notes receivable, net 139,383 126,429
Construction receivables, including retentions, net 29,107 17,865
Construction contract costs and estimated earnings in excess of billings 493 243
Equity method investments 53,260 12,685
Operating lease right-of-use assets 23,387 23,493
Finance lease right-of-use assets 46,433 46,989
Acquired lease intangible assets 107,147 62,038
Other assets 75,743 45,927
Total Assets 2,265,535 1,938,063
LIABILITIES AND EQUITY    
Indebtedness, net 1,080,664 917,556
Liabilities related to assets held for sale 84,049 41,364
Accounts payable and accrued liabilities 22,886 29,589
Construction payables, including retentions 47,429 31,166
Billings in excess of construction contract costs and estimated earnings 15,075 4,881
Operating lease liabilities 31,645 31,648
Finance lease liabilities 46,325 46,160
Other liabilities 51,126 55,876
Total Liabilities 1,379,199 1,158,240
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, 2022 and December 31, 2021 171,085 171,085
Common stock, $0.01 par value, 500,000,000 shares authorized; 67,729,650 and 63,011,700 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 677 630
Additional paid-in capital 588,012 525,030
Distributions in excess of earnings (135,942) (141,360)
Accumulated other comprehensive gain (loss) 10,091 (33)
Total stockholders’ equity 633,923 555,352
Noncontrolling interests in investment entities 23,952 629
Noncontrolling interests in Operating Partnership 228,461 223,842
Total Equity 886,336 779,823
Total Liabilities and Equity $ 2,265,535 $ 1,938,063
[1] Restricted cash represents amounts held by lenders for real estate taxes, insurance, and reserves for capital improvements.