RESTRICTED CASH

3 Months Ended

Mar. 31, 2020

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 LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. As of March 31, 2020 and December 31, 2019, the Company had $0.5 million and $1.2 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 a real estate sale.

The following table contains the amounts of restricted cash recorded in the Consolidated Balance Sheets and Consolidated Statements of Cash Flows for the three months ended March 31, 2020:


			March 31, 2020

Restricted cash held in escrow			$475
Total restricted cash shown in the Consolidated Balance Sheets			475
Cash and cash equivalents			132,362
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows			$132,837