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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Schedule of Real Estate Properties | The Company’s investment properties as of December 31, 2020 and December 31, 2019 were as follows:
($ in thousands) |  | Balance at
|  | December 31, 2020 |  | December 31, 2019
Investment properties, at cost: |  |  |  |
Land, buildings and improvements |  | $ | 3,109,122 |  |  | $ | 3,038,412 |
Furniture, equipment and other |  | 6,979 |  |  | 7,775 |
Construction in progress |  | 27,860 |  |  | 41,204 |
|  | $ | 3,143,961 |  |  | $ | 3,087,391 |
Summary of Cash, Cash Equivalents, and Restricted Cash | The following is a summary of our cash, cash equivalents, and restricted cash total as presented in our statements of cash flows for the years ended December 31, 2020, 2019, and 2018:
|  | 2020 |  | 2019 |  | 2018
Cash and cash equivalents |  | 43,648 |  |  | 31,336 |  |  | 35,376 |
Restricted cash and escrow deposits |  | 2,938 |  |  | 21,477 |  |  | 10,130 |
Total cash, cash equivalents, restricted cash, and escrow deposits |  | $ | 46,586 |  |  | $ | 52,813 |  |  | $ | 45,506 |
Schedule of Concentration by Risk Factor | Total billed receivables due from tenants leasing space in the states of Florida, Indiana, Texas, North Carolina, and Nevada, consisted of the following as of December 31, 2020:
Florida | 39 | %
Indiana | 14 | %
Texas | 7 | %
North Carolina | 11 | %
Nevada | 4 | %
For the year ended December 31, 2020, the Company's revenue recognized from tenants leasing space in the states of Florida, Indiana, Texas, North Carolina, and Nevada, were as follows:
Florida | 26 | % |
Indiana | 15 | % |
Texas | 14 | % |
North Carolina | 12 | % |
Nevada | 11 | % |
Schedule of Tax Characterization of Dividends Paid | A summary of the tax characterization of the dividends paid by the Parent Company for the years ended December 31, 2020, 2019, and 2018 is as follows:
|  | 2020 |  | 2019 |  | 2018
Ordinary income |  | 89.3 | % |  | 29.7 | % |  | 56.0 | %
Return of capital |  | — | % |  | 35.2 | % |  | 44.0 | %
Capital gains |  | 10.7 | % |  | 35.1 | % |  | — | %
Balance, end of year |  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Schedule of Stockholders Equity | The non-redeemable noncontrolling interests in consolidated properties for the years ended December 31, 2020, 2019, and 2018 were as follows:
($ in thousands) |  | 2020 |  | 2019 |  | 2018
Noncontrolling interests balance January 1 |  | $ | 698 |  |  | $ | 698 |  |  | $ | 698 |
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests |  | — |  |  | — |  |  | — |
Distributions to noncontrolling interests |  | — |  |  | — |  |  | — |
Noncontrolling interests balance at December 31 |  | $ | 698 |  |  | $ | 698 |  |  | $ | 698 |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net | For the years ended December 31, 2020, 2019, and 2018, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Parent Company’s weighted average interest in Operating Partnership |  | 97.4 | % |  | 97.6 | % |  | 97.6 | %
Limited partners' weighted average interests in Operating Partnership |  | 2.6 | % |  | 2.4 | % |  | 2.4 | %
Redeemable Noncontrolling Interest | The redeemable noncontrolling interests in the Operating Partnership and subsidiaries for the years ended December 31, 2020, 2019, and 2018 were as follows:
($ in thousands) |  | 2020 |  | 2019 |  | 2018
Redeemable noncontrolling interests balance January 1 |  | $ | 52,574 |  |  | $ | 45,743 |  |  | $ | 72,104 |
Net income allocable to redeemable noncontrolling interests |  | 100 |  |  | 532 |  |  | 116 |
Distributions declared to redeemable noncontrolling interests |  | (1,533) |  |  | (3,191) |  |  | (3,788) |
Payment for partial redemption of redeemable noncontrolling interests |  | — |  |  | — |  |  | (22,461) |
Other, net including adjustments to redemption value |  | (7,866) |  |  | 9,490 |  |  | (228) |
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at December 31 |  | $ | 43,275 |  |  | $ | 52,574 |  |  | $ | 45,743 |
Limited partners' interests in Operating Partnership |  | $ | 33,205 |  |  | $ | 42,504 |  |  | $ | 35,673 |
Other redeemable noncontrolling interests in certain subsidiaries |  | 10,070 |  |  | 10,070 |  |  | 10,070 |
Total limited partners' interests in Operating Partnership and other redeemable noncontrolling interests balance at December 31 |  | $ | 43,275 |  |  | $ | 52,574 |  |  | $ | 45,743 |

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