Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Land, at cost	$ 974,264	$ 947,899
Grain facilities	11,533	11,463
Groundwater	11,473	12,107
Irrigation improvements	52,372	51,678
Drainage improvements	11,981	9,964
Permanent plantings	52,955	52,870
Other	8,247	8,245
Construction in progress	13,189	8,137
Real estate, at cost	1,136,014	1,102,363
Less accumulated depreciation	(14,217)	(10,285)
Total real estate, net	1,121,797	1,092,078
Deposits	84	239
Cash	26,414	53,536
Notes and interest receivable, net	12,469	9,760
Deferred offering costs	430	292
Deferred financing fees, net	305	348
Accounts receivable, net	3,986	6,650
Inventory	420	126
Prepaid and other assets	2,185	3,057
TOTAL ASSETS	1,168,090	1,166,086
LIABILITIES
Mortgage notes and bonds payable, net	533,799	514,071
Dividends payable	4,767	4,847
Derivative liability	495
Accrued interest	4,158	3,193
Accrued property taxes	1,907	1,584
Deferred revenue	7,905	3,907
Accrued expenses	1,762	2,800
Total liabilities	554,793	530,402
Commitments and contingencies (See Note 8)
Series B Participating Preferred Stock, $0.01 par value, 100,000,000 shares authorized; 6,037,500 shares issued and outstanding at June 30, 2018, and December 31, 2017	144,223	144,223
Redeemable non-controlling interest in operating partnership, Series A preferred units	118,755	120,510
EQUITY
Common stock, $0.01 par value, 500,000,000 shares authorized; 32,867,817 shares issued and outstanding at June 30, 2018, and 33,334,849 shares issued and outstanding at December 31, 2017	323	329
Additional paid in capital	346,600	350,147
Retained earnings	178	5,161
Cumulative dividends	(39,580)	(31,199)
Other comprehensive income	(495)
Non-controlling interests in operating partnership	43,293	46,513
Total equity	350,319	370,951
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS IN OPERATING PARTNERSHIP AND EQUITY	$ 1,168,090	$ 1,166,086