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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Real estate, at cost    
Land $ 1,966,237 $ 1,966,237
Buildings and improvements 6,061,824 5,997,078
Rental property, at cost 8,028,061 7,963,315
Accumulated depreciation and amortization (1,112,977) (966,697)
Real estate, net 6,915,084 6,996,618
Cash and cash equivalents 524,900 434,530
Restricted cash 4,766 30,794
Investments in unconsolidated joint ventures 408,096 412,724
Investments in unconsolidated real estate funds 11,421 12,917
Accounts and other receivables 15,582 17,502
Deferred rent receivable 332,735 330,239
Deferred charges, net of accumulated amortization of $70,666 and $56,612 122,177 116,278
Intangible assets, net of accumulated amortization of $252,142 and $283,332 119,413 153,519
Other assets 40,388 48,976
Total assets [1] 8,494,562 8,554,097
Liabilities and Equity    
Notes and mortgages payable, net of unamortized deferred financing costs of $22,380 and $18,695 3,835,620 3,800,739
Revolving credit facility 0 0
Accounts payable and accrued expenses 116,192 101,901
Dividends and distributions payable 16,895 16,796
Intangible liabilities, net of accumulated amortization of $105,790 and $107,981 45,328 55,996
Other liabilities 25,495 62,931
Total liabilities [1] 4,039,530 4,038,363
Commitments and contingencies
Paramount Group, Inc. equity:    
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 218,991,795 and 218,817,337 shares in 2021 and 2020, respectively 2,190 2,188
Additional paid-in-capital 4,122,680 4,120,173
Earnings less than distributions (538,845) (456,393)
Accumulated other comprehensive income (loss) 2,138 (12,791)
Paramount Group, Inc. equity 3,588,163 3,653,177
Noncontrolling interests in:    
Consolidated joint ventures 428,833 437,161
Consolidated real estate fund 81,925 79,017
Operating Partnership (21,740,404 and 20,756,618 units outstanding) 356,111 346,379
Total equity 4,455,032 4,515,734
Total liabilities and equity $ 8,494,562 $ 8,554,097
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 91.0% as of December 31, 2021. As of December 31, 2021, the Operating Partnership includes $4,025,856 and $2,576,710 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 12, Variable Interest Entities (“VIEs”).