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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Real estate investments:    
Income producing property $ 1,797,547 $ 1,658,609
Held for development 6,294 6,294
Construction in progress 92,357 72,535
Gross real estate investments 1,896,198 1,737,438
Accumulated depreciation (316,189) (285,814)
Net real estate investments 1,580,009 1,451,624
Real estate investments held for sale 0 80,751
Cash and cash equivalents 54,700 35,247
Restricted cash 4,865 [1] 5,196
Accounts receivable, net 35,400 29,576
Notes receivable, net 141,816 126,429
Construction receivables, including retentions, net 47,865 17,865
Construction contract costs and estimated earnings in excess of billings 232 243
Equity method investments 64,470 12,685
Operating lease right-of-use assets 23,416 23,493
Finance lease right-of-use assets 46,155 46,989
Acquired lease intangible assets 103,297 62,038
Other assets 85,346 45,927
Total Assets 2,187,571 1,938,063
LIABILITIES AND EQUITY    
Indebtedness, net 1,041,576 917,556
Liabilities related to assets held for sale 0 41,364
Accounts payable and accrued liabilities 24,301 29,589
Construction payables, including retentions 63,376 31,166
Billings in excess of construction contract costs and estimated earnings 15,736 4,881
Operating lease liabilities 31,708 31,648
Finance lease liabilities 46,409 46,160
Other liabilities 53,551 55,876
Total Liabilities 1,276,657 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 September 30, 2022 and December 31, 2021 171,085 171,085
Common stock, $0.01 par value, 500,000,000 shares authorized; 67,730,053 and 63,011,700 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively 677 630
Additional paid-in capital 588,707 525,030
Distributions in excess of earnings (122,838) (141,360)
Accumulated other comprehensive gain (loss) 15,202 (33)
Total stockholders’ equity 652,833 555,352
Noncontrolling interests in investment entities 24,187 629
Noncontrolling interests in Operating Partnership 233,894 223,842
Total Equity 910,914 779,823
Total Liabilities and Equity $ 2,187,571 $ 1,938,063
[1] Restricted cash represents amounts held by lenders for real estate taxes, insurance, and reserves for capital improvements.