Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate, at cost:
Land	$ 48,652	$ 20,475
Buildings and improvements	382,035	109,425
Tenant improvements	87,344	14,732
Construction in progress	0	6,298
Total real estate, at cost	518,031	150,930
Less accumulated depreciation	(12,170)	(3,571)
Net real estate held for investment	505,861	147,359
Cash and cash equivalents	82,244	13,050
Restricted Cash	35,072	0
Investments	119,595	120,443
Right of use office lease asset	1,202	0
Other assets, net	1,883	614
Total assets	745,857	281,466
Liabilities and stockholders' equity
Exchangeable senior notes, net	134,654	0
Tenant improvements and construction funding payable	24,968	2,433
Accounts payable and accrued expenses	3,417	1,968
Dividends payable	12,975	3,759
Office lease liability	1,202	0
Rent received in advance and tenant security deposits	20,631	9,014
Total liabilities	197,847	17,174
Commitments and contingencies (Notes 6 and 11)
Stockholders' equity:
Preferred stock (par value $0.001 per share, 50,000,000 shares authorized: 9.00% Series A cumulative redeemable preferred stock, $15,000 liquidation preference ($25.00 per share), 600,000 shares issued and outstanding at December 31, 2019 and 2018	14,009	14,009
Common stock, par value $0.001 per share, 50,000,000 shares authorized: 12,637,043 and 9,775,800 shares issued and outstanding at December 31, 2019 and 2018, respectively	13	10
Additional paid-in capital	553,932	260,540
Dividends in excess of earnings	(19,944)	(10,267)
Total stockholders' equity	548,010	264,292
Total liabilities and stockholders' equity	$ 745,857	$ 281,466