Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Land, at cost	$ 937,813	$ 957,516
Grain facilities	12,091	12,184
Groundwater	11,473	11,473
Irrigation improvements	53,871	53,458
Drainage improvements	12,674	12,271
Permanent plantings	52,089	52,989
Other	7,827	8,196
Construction in progress	11,911	10,262
Real estate, at cost	1,099,749	1,118,349
Less accumulated depreciation	(25,277)	(18,202)
Total real estate, net	1,074,472	1,100,147
Deposits	1
Cash	12,561	16,891
Notes and interest receivable, net	4,767	11,877
Right of Use Asset	73
Deferred offering costs		218
Deferred financing fees, net	174	261
Accounts receivable, net	5,515	6,136
Inventory	1,550	341
Prepaid expenses and other assets	3,440	3,638
TOTAL ASSETS	1,102,553	1,139,509
LIABILITIES
Mortgage notes and bonds payable, net	511,403	523,641
Lease Liability	73
Dividends payable	1,593	1,681
Derivative liability	1,644	865
Accrued interest	3,111	4,296
Accrued property taxes	1,873	1,666
Deferred revenue	71	238
Accrued expenses	5,868	3,581
Total liabilities	525,636	535,968
Commitments and contingencies (See Note 8)
Series B Participating Preferred Stock, $0.01 par value, 6,037,500 shares authorized; 5,972,059 shares issued and outstanding at December 31, 2019, and 6,013,587 shares issued and outstanding at December 31, 2018	142,861	143,758
Redeemable non-controlling interest in operating partnership, preferred units	120,510	120,510
EQUITY
Common stock, $0.01 par value, 500,000,000 shares authorized; 29,952,608 shares issued and outstanding at December 31, 2019, and 30,594,592 shares issued and outstanding at December 31, 2018	292	300
Additional paid in capital	338,387	332,996
Retained earnings	6,251	4,852
Cumulative dividends	(48,784)	(42,695)
Other comprehensive income	(1,644)	(865)
Non-controlling interests in operating partnership	19,044	44,685
Total equity	313,546	339,273
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST IN OPERATING PARTNERSHIP AND EQUITY	$ 1,102,553	$ 1,139,509