Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Assets    
Land $ 306,507 $ 301,709
Income producing property 1,544,217 1,473,335
Net income producing property, at cost 1,850,724 1,775,044
Accumulated depreciation and amortization (384,392) (335,006)
Net income producing property 1,466,332 1,440,038
Properties under development or held for future development 30,254 36,494
Total real estate held for investment, net 1,496,586 1,476,532
Investment in real estate held for sale, net 0 795,687
Cash and cash equivalents 307,797 7,697
Restricted cash 605 593
Rents and other receivables 14,713 9,725
Prepaid expenses and other assets 33,109 29,587
Other assets related to properties sold or held for sale 0 89,997
Total assets 1,852,810 2,409,818
Liabilities    
Notes payable, net 496,823 945,370
Line of credit 0 42,000
Accounts payable and other liabilities 38,864 44,067
Dividend payable 14,440 25,361
Advance rents 1,747 2,461
Tenant security deposits 4,480 4,221
Other liabilities related to properties sold or held for sale 0 25,229
Total liabilities 556,354 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; 84,628 and 84,409 shares issued and outstanding, as of September 30, 2021 and December 31, 2020, respectively 846 844
Additional paid in capital 1,656,821 1,649,366
Distributions in excess of net income (341,052) (298,860)
Accumulated other comprehensive loss (20,468) (30,563)
Total shareholders’ equity 1,296,147 1,320,787
Noncontrolling interests in subsidiaries 309 322
Total equity 1,296,456 1,321,109
Total liabilities and equity $ 1,852,810 $ 2,409,818