CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Real Estate Investments
Land	$ 856,113	$ 735,991
Buildings	1,927,114	1,600,293
Less accumulated depreciation	(146,267)	(127,748)
Real estate investments excluding property under development	2,636,960	2,208,536
Property under development	6,171	10,056
Net Real Estate Investments	2,643,131	2,218,592
Real Estate Held for Sale, net		3,750
Cash and Cash Equivalents	29,341	15,603
Cash Held in Escrows	7,043	26,554
Accounts Receivable - Tenants	33,996	26,808
Lease intangibles, net of accumulated amortization of $105,296 and $89,118 at June 30, 2020 and December 31, 2019, respectively	368,812	343,514
Other Assets, net	29,319	29,709
Total Assets	3,111,642	2,664,530
LIABILITIES
Mortgage Notes Payable, net	33,513	36,698
Unsecured Term Loans, net	237,274	237,403
Senior Unsecured Notes, net	509,253	509,198
Unsecured Revolving Credit Facility		89,000
Dividends and Distributions Payable	32,519	25,014
Accounts Payable, Accrued Expenses, and Other Liabilities	80,088	48,987
Lease intangibles, net of accumulated amortization of $21,758 and $19,307 at June 30, 2020 and December 31, 2019, respectively	33,019	26,668
Total Liabilities	925,666	972,968
EQUITY
Common stock, $.0001 par value, 90,000,000 shares authorized, 53,851,092 and 45,573,623 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	5	5
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized
Additional paid-in-capital	2,295,235	1,752,912
Dividends in excess of net income	(69,595)	(57,094)
Accumulated other comprehensive income (loss)	(41,544)	(6,492)
Total Equity - Agree Realty Corporation	2,184,101	1,689,331
Non-controlling interest	1,875	2,231
Total Equity	2,185,976	1,691,562
Total Liabilities and Equity	$ 3,111,642	$ 2,664,530