Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Assets    
Land $ 574,025 $ 566,807
Income producing property 2,467,629 2,392,415
Net income producing property, at cost 3,041,654 2,959,222
Accumulated depreciation and amortization (745,692) (693,610)
Net income producing property 2,295,962 2,265,612
Properties under development or held for future development 89,166 124,193
Total real estate held for investment, net 2,385,128 2,389,805
Investment in real estate held for sale, net 0 57,028
Cash and cash equivalents 7,971 12,939
Restricted cash 630 1,812
Rents and other receivables 67,026 65,259
Prepaid expenses and other assets 81,967 95,149
Other assets related to properties held for sale 0 6,336
Total assets 2,542,722 2,628,328
Liabilities    
Notes payable, net 897,060 996,722
Mortgage notes payable, net 0 47,074
Line of credit 181,000 56,000
Accounts payable and other liabilities 93,192 71,136
Dividend payable 24,760 24,668
Advance rents 7,375 9,353
Tenant security deposits 10,769 10,595
Other liabilities related to properties held for sale 0 718
Total liabilities 1,214,156 1,216,266
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; 100,000 shares authorized; 82,327 and 82,099 shares issued and outstanding, as of June 30, 2020 and December 31, 2019, respectively 823 821
Additional paid in capital 1,598,620 1,592,487
Distributions in excess of net income (236,673) (183,405)
Accumulated other comprehensive (loss) income (34,533) 1,823
Total shareholders’ equity 1,328,237 1,411,726
Noncontrolling interests in subsidiaries 329 336
Total equity 1,328,566 1,412,062
Total liabilities and equity $ 2,542,722 $ 2,628,328