CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Operating real estate, net	$ 3,355,913	$ 3,160,851
Real estate under development	253,402	120,297
Net investments in real estate	3,609,315	3,281,148
Notes receivable, net	114,943	111,775
Investments in and advances to unconsolidated affiliates	305,097	262,410
Other assets, net	190,658	206,408
Cash and cash equivalents	15,845	21,268
Restricted cash	14,165	13,580
Rents receivable	59,091	62,191
Total assets	4,309,114	3,958,780
LIABILITIES
Mortgage and other notes payable, net	1,170,076	1,017,288
Unsecured notes payable, net	477,320	533,257
Unsecured line of credit	60,800	0
Accounts payable and other liabilities	371,516	286,072
Dividends and distributions payable	27,075	24,593
Distributions in excess of income from, and investments in, unconsolidated affiliates	15,362	15,623
Total liabilities	2,122,149	1,876,833
Commitments and contingencies
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 87,050,465 and 81,557,472 shares, respectively	87	82
Additional paid-in capital	1,706,357	1,548,603
Accumulated other comprehensive (loss) income	(31,175)	516
Distributions in excess of accumulated earnings	(132,961)	(89,696)
Total Acadia shareholders’ equity	1,542,308	1,459,505
Noncontrolling interests	644,657	622,442
Total equity	2,186,965	2,081,947
Total liabilities and equity	$ 4,309,114	$ 3,958,780