Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Land, at cost	$ 934,799	$ 957,516
Grain facilities	12,103	12,184
Groundwater	11,473	11,473
Irrigation improvements	53,751	53,458
Drainage improvements	12,311	12,271
Permanent plantings	52,089	52,989
Other	7,827	8,196
Construction in progress	10,835	10,262
Real estate, at cost	1,095,188	1,118,349
Less accumulated depreciation	(23,317)	(18,202)
Total real estate, net	1,071,871	1,100,147
Deposits	50
Cash	8,563	16,891
Notes and interest receivable, net	7,765	11,877
Right of use asset	104
Deferred offering costs		218
Deferred financing fees, net	196	261
Accounts receivable, net	5,347	6,136
Inventory	1,196	341
Prepaid and other assets	1,956	3,638
TOTAL ASSETS	1,097,048	1,139,509
LIABILITIES
Mortgage notes and bonds payable, net	511,393	523,641
Lease liability	104
Dividends payable	1,599	1,681
Derivative liability	1,815	865
Accrued interest	3,630	4,296
Accrued property taxes	2,630	1,666
Deferred revenue	248	238
Accrued expenses	4,256	3,581
Total liabilities	525,675	535,968
Commitments and contingencies (See Note 8)
Series B Participating Preferred Stock, $0.01 par value, 100,000,000 shares authorized; 5,972,059 shares issued and outstanding at September 30, 2019, and 6,013,587 December 31, 2018	142,861	143,758
Redeemable non-controlling interest in operating partnership, Series A preferred units	119,633	120,510
EQUITY
Common stock, $0.01 par value, 500,000,000 shares authorized; 30,076,842 shares issued and outstanding at September 30, 2019, and 30,594,592 shares issued and outstanding at December 31, 2018	292	300
Additional paid in capital	338,791	332,996
Retained earnings	179	4,852
Cumulative dividends	(47,268)	(42,695)
Other comprehensive income	(1,815)	(865)
Non-controlling interests in operating partnership	18,700	44,685
Total equity	308,879	339,273
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS IN OPERATING PARTNERSHIP AND EQUITY	$ 1,097,048	$ 1,139,509