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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Investments in real estate:    
Investments in real estate, at cost $ 1,357,338 $ 1,372,015
Accumulated depreciation (44,422) (39,638)
Investments in real estate, net [1] 1,312,916 1,332,377
Cash and cash equivalents 21,924 38,301
Restricted cash 7,015 5,413
Accounts receivable and other assets 2,795 3,362
Intangible assets, net of accumulated amortization of $0 and $3,736 respectively   3,735
Total Assets 1,344,650 1,383,188
LIABILITIES AND EQUITY:    
Indebtedness, net of unamortized discount and deferred financing costs of $8,185 and $8,920, respectively 940,336 966,611
Accounts payable and accrued expenses 16,089 19,304
Accrued interest payable 1,175 1,239
Dividends payable 3,007 3,006
Other liabilities 3,071 2,998
Total Liabilities $ 963,678 $ 993,158
Stockholders’ equity:    
Preferred stock, $0.01 par value; 50,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively
Common stock, $0.01 par value; 300,000,000 shares authorized, 47,458,250 and 47,070,678 shares issued and outstanding, including 284,339 and 117,000 unvested restricted common share awards, respectively $ 475 $ 471
Additional paid-in capital 380,152 378,187
Accumulated other comprehensive income (26) (8)
Retained earnings (accumulated deficit) (23,094) (14,500)
Total stockholders’ equity 357,507 364,150
Noncontrolling interests 23,465 25,880
Total Equity 380,972 390,030
Total Liabilities and Equity $ 1,344,650 $ 1,383,188
[1] As of March 31, 2016, two of our multi-family real estate properties were considered held-for-sale. The carrying amount and fair value less estimated to costs to sell of these properties was $39,347 and $69,300, respectively.