Cash paid for interest was $46.6 million (net of capitalized interest of $1.8 million) and $41.9 million (net of capitalized interest of $7.0 million) for the nine months ended September 30, 2020 and 2019, respectively.

In our statement of cash flows, we show cash flows on our Revolving Facilities on a net basis. Aggregate borrowings on our Revolving Facilities were $120.0 million and $181.0 million for the nine months ended September 30, 2020 and 2019, respectively. Aggregate paydowns were $0.0 million and $33.0 million for the nine months ended September 30, 2020 and 2019, respectively. Net and aggregate paydowns on our Term Loans were $12.0 million and $0.0 million for the nine months ended September 30, 2020 and 2019, respectively.

Accrued construction costs decreased by $6.3 million in the nine months ended September 30, 2020 and decreased by $15.7 million in the nine months ended September 30, 2019, representing non-cash changes in investment in real estate and construction in progress.

In the first quarter of 2019, we issued 6,250,000 common shares of beneficial interest in the Company in exchange for a like number of OP Units in our Operating Partnership. The shares were issued to Vornado Investments LLC, an affiliate of Franconia Two, L.P., the holder of the OP Units.

The following table provides a summary of cash, cash equivalents, and restricted cash reported within the statement of cash flows as of September 30, 2020 and 2019.

	September 30,
(in thousands of dollars)	2020		2019
Cash and cash equivalents	$	36,373	$	11,709
Restricted cash included in other assets		6,087		6,183
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	42,460	$	17,892

Our restricted cash consists of cash held in escrow by banks for real estate taxes and other purposes.