Consolidated Balance Sheet (Unaudited) $ in Thousands	Dec. 31, 2018 USD ($)
Assets
Land and improvements	$ 870,549
Buildings and improvements	1,526,933
Total real estate investments	2,397,482
Less: accumulated depreciation	(459,615)
Total real estate investments, net	1,937,867
Loans receivable, net	30,093
Intangible lease assets, net	79,314
Real estate assets held for sale, net	7,263
Net investments	2,054,537
Cash and cash equivalents	161,013
Deferred costs and other assets, net	83,087
Goodwill	7,012
Total assets	2,305,649
Liabilities
Mortgages and notes payable, net	2,138,804
Intangible lease liabilities, net	17,676
Accounts payable, accrued expenses and other liabilities	83,629
Total liabilities	2,240,109
Commitments and contingencies (see Note 9)
Redeemable preferred equity:
Redeemable preferred equity	155,125
Shareholders' deficit:
Common shares, $0.01 par value, 750,000,000 shares authorized; 43,000,862 shares issued and outstanding at December 31, 2018.	430
Capital in excess of common share par value	201,056
Accumulated deficit	(291,071)
Total shareholders' deficit	(89,585)
Total liabilities and deficit	2,305,649
SMTA Preferred Shares
Redeemable preferred equity:
Redeemable preferred equity	150,000
SubREIT Preferred Shares
Redeemable preferred equity:
Redeemable preferred equity	$ 5,125