CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investments:
Land	$ 125,533	$ 124,041
Buildings and improvements	1,280,491	1,262,335
Accumulated depreciation and amortization	(304,337)	(304,117)
Operating real estate property, net	1,101,687	1,082,259
Properties held-for-sale, net of accumulated depreciation: 2018—$2,887; 2017—$1,916	5,356	3,830
Real property investments, net	1,107,043	1,086,089
Mortgage loans receivable, net of loan loss reserve: 2018—$2,444; 2017—$2,255	242,609	223,907
Real estate investments, net	1,349,652	1,309,996
Notes receivable, net of loan loss reserve: 2018—$128; 2017—$166	12,642	16,402
Investments in unconsolidated joint ventures	30,511	29,898
Investments, net	1,392,805	1,356,296
Other assets:
Cash and cash equivalents	20,408	5,213
Restricted cash	2,163
Debt issue costs related to bank borrowings	3,202	810
Interest receivable	19,290	15,050
Straight-line rent receivable, net of allowance for doubtful accounts: 2018—$739; 2017—$814	73,114	64,490
Lease incentives	21,102	21,481
Prepaid expenses and other assets	3,767	2,230
Total assets	1,535,851	1,465,570
LIABILITIES
Bank borrowings	120,000	96,500
Senior unsecured notes, net of debt issue costs: 2018—$981; 2017—$1,131	550,986	571,002
Accrued interest	3,468	5,276
Accrued incentives and earn-outs	9,292	8,916
Accrued expenses and other liabilities	28,812	25,228
Total liabilities	712,558	706,922
Stockholders’ equity:
Common stock: $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2018—39,657; 2017—39,570	397	396
Capital in excess of par value	861,226	856,992
Cumulative net income	1,224,998	1,100,783
Cumulative distributions	(1,270,779)	(1,203,011)
Total LTC Properties, Inc. stockholders’ equity	815,842	755,160
Non-controlling interests	7,451	3,488
Total equity	823,293	758,648
Total liabilities and equity	$ 1,535,851	$ 1,465,570