v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Assets    
Land $ 301,709 $ 301,709
Income producing property 1,490,975 1,473,335
Net income producing property, at cost 1,792,684 1,775,044
Accumulated depreciation and amortization (367,519) (335,006)
Net income producing property 1,425,165 1,440,038
Properties under development or held for future development 30,065 36,494
Total real estate held for investment, net 1,455,230 1,476,532
Investment in real estate held for sale, net 779,121 795,687
Cash and cash equivalents 5,435 7,697
Restricted cash 595 593
Rents and other receivables 12,916 9,725
Prepaid expenses and other assets 28,297 29,587
Other assets related to properties held for sale 86,811 89,997
Total assets 2,368,405 2,409,818
Liabilities    
Notes payable, net 945,905 945,370
Line of credit 43,000 42,000
Accounts payable and other liabilities 47,897 44,067
Dividend payable 25,474 25,361
Advance rents 1,572 2,461
Tenant security deposits 4,374 4,221
Other liabilities related to properties held for sale 23,748 25,229
Total liabilities 1,091,970 1,088,709
Shareholders’ equity    
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued or outstanding 0 0
Shares of beneficial interest, $0.01 par value; 150,000 and 100,000 shares authorized; 84,590 and 84,409 shares issued and outstanding, as of June 30, 2021 and December 31, 2020, respectively 846 844
Additional paid in capital 1,654,409 1,649,366
Distributions in excess of net income (357,934) (298,860)
Accumulated other comprehensive loss (21,200) (30,563)
Total shareholders’ equity 1,276,121 1,320,787
Noncontrolling interests in subsidiaries 314 322
Total equity 1,276,435 1,321,109
Total liabilities and equity $ 2,368,405 $ 2,409,818

Source