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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Real Estate Investments    
Land $ 735,991 $ 553,704
Buildings 1,600,293 1,194,985
Less accumulated depreciation (127,748) (100,312)
Real estate investments excluding property under development 2,208,536 1,648,377
Property under development 10,056 12,957
Net Real Estate Investments 2,218,592 1,661,334
Real Estate Held for Sale, net 3,750  
Cash and Cash Equivalents 15,603 53,955
Cash Held in Escrows 26,554 20
Accounts Receivable - Tenants 26,808 21,547
Unamortized Deferred Expenses    
Lease intangibles, net of accumulated amortization of $89,118 and $62,543 at December 31, 2019 and December 31, 2018, respectively 343,514 280,153
Other Assets, net 29,709 11,180
Total Assets 2,664,530 2,028,189
LIABILITIES    
Mortgage Notes Payable, net 36,698 60,926
Unsecured Term Loans, net 237,403 256,419
Senior Unsecured Notes, net 509,198 384,064
Unsecured Revolving Credit Facility 89,000 19,000
Dividends and Distributions Payable 25,014 21,031
Accounts Payable, Accrued Expenses, and Other Liabilities 48,987 21,045
Lease intangibles, net of accumulated amortization of $19,307 and $15,177 at December 31, 2019 and December 31, 2018, respectively 26,668 27,218
Total Liabilities 972,968 789,703
EQUITY    
Common stock, $.0001 par value, 90,000,000 shares authorized, 45,573,623 and 37,545,790 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively 5 4
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized
Additional paid-in-capital 1,752,912 1,277,592
Dividends in excess of net income (57,094) (42,945)
Accumulated other comprehensive income (loss) (6,492) 1,424
Total Equity - Agree Realty Corporation 1,689,331 1,236,075
Non-controlling interest 2,231 2,411
Total Equity 1,691,562 1,238,486
Total Liabilities and Equity $ 2,664,530 $ 2,028,189