RESTRICTED CASH

12 Months Ended

Dec. 31, 2019

Restricted Cash and Investments [Abstract]

In order to qualify for like-kind exchange (“LKE”) treatment, the proceeds from real estate sales must be deposited with a third-party intermediary. These proceeds are accounted for as restricted cash until a suitable replacement property is acquired. In the event that the LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. As of December 31, 2019 and 2018, the Company had $1.2 million and $8.1 million, respectively, of proceeds from real estate sales classified as restricted cash which were deposited with an LKE intermediary as well as cash held in escrow for real estate development obligations.

The following table contains the amount of restricted cash recorded in the Consolidated Balance Sheets and Consolidated Statements of Cash Flows for the years ended December 31:



	2019		2018
Restricted cash deposited with LKE intermediary		$758		$7,530
Restricted cash held in escrow	475		550
Total restricted cash shown in the Consolidated Balance Sheets	1,233		8,080
Cash and cash equivalents	68,735		148,374
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows		$69,968		$156,454