Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate, at cost:
Land and improvements	$ 1,240,455	$ 1,371,874
Buildings and improvements	3,880,973	3,722,930
Construction in progress, including land	654,091	697,930
Real estate, at cost	5,775,519	5,792,734
Less accumulated depreciation	(1,119,571)	(1,051,875)
Real estate, net	4,655,948	4,740,859
Cash and cash equivalents	126,413	260,553
Restricted cash	16,103	138,979
Tenant and other receivables, net	52,941	46,568
Deferred rent receivable, net	169,721	143,473
Investments in and advances to unconsolidated real estate ventures	543,026	322,878
Other assets, net	253,687	264,994
Assets held for sale	168,412	78,981
TOTAL ASSETS	5,986,251	5,997,285
Liabilities:
Mortgages payable, net	1,125,777	1,838,381
Long-term Line of Credit	200,000	0
Unsecured term loans, net	297,295	297,129
Accounts payable and accrued expenses	157,702	130,960
Other liabilities, net	206,042	181,606
Liabilities related to assets held for sale	0	3,717
Total liabilities	1,986,816	2,451,793
Commitments and contingencies
Redeemable noncontrolling interests	612,758	558,140
Shareholders' equity:
Preferred shares, $0.01 par value - 200,000 shares authorized, none issued	0	0
Common shares, $0.01 par value - 500,000 shares authorized; 134,148 and 120,937 shares issued and outstanding as of December 31, 2019 and 2018	1,342	1,210
Additional paid-in capital	3,633,042	3,155,256
Accumulated deficit	(231,164)	(176,018)
Accumulated other comprehensive income (loss)	(16,744)	6,700
Total shareholders' equity of JBG SMITH Properties	3,386,476	2,987,148
Noncontrolling interests in consolidated subsidiaries	201	204
Total equity	3,386,677	2,987,352
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	$ 5,986,251	$ 5,997,285