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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Cash and cash equivalents $ 50,829 $ 54,830
Restricted cash 44,764 58,430
Real estate:    
Land 461,745 458,339
Building and improvements 3,081,397 3,043,527
Tenant origination and absorption cost 749,743 744,773
Construction in progress 33,455 31,794
Total real estate 4,326,340 4,278,433
Less: accumulated depreciation and amortization (708,369) (668,104)
Total real estate, net 3,617,971 3,610,329
Investments in unconsolidated entities 8,250 11,028
Intangible assets, net 12,085 12,780
Deferred rent receivable 76,773 73,012
Deferred leasing costs, net 49,379 49,390
Goodwill 229,948 229,948
Due from affiliates 635 837
Right of use asset 40,991 41,347
Other assets 34,304 33,571
Total assets 4,165,929 4,175,502
LIABILITIES AND EQUITY    
Debt, net 2,076,817 1,969,104
Restricted reserves 13,805 14,064
Interest rate swap liability 55,004 24,146
Redemptions payable 5,238 96,648
Distributions payable 15,130 15,530
Due to affiliates 7,471 10,883
Intangible liabilities, net 30,987 31,805
Lease liability 45,174 45,020
Accrued expenses and other liabilities 98,688 96,389
Total liabilities 2,348,314 2,303,589
Commitments and contingencies
Noncontrolling interests subject to redemption; 555,602 and 554,110 units as of March 31, 2020 and December 31, 2019 respectively. 4,831 4,831
Stockholders’ equity:    
Common stock, $0.001 par value; 800,000,000 shares authorized; 229,671,555 and 227,853,720 shares outstanding in the aggregate as of March 31, 2020 and December 31, 2019(1), respectively [1] 230 228
Additional paid-in capital 1,992,717 2,060,604
Cumulative distributions (753,129) (715,792)
Accumulated earnings 154,049 153,312
Accumulated other comprehensive loss (48,993) (21,875)
Total stockholders’ equity 1,344,874 1,476,477
Noncontrolling interests 237,165 245,040
Total equity 1,582,039 1,721,517
Total liabilities and equity 4,165,929 4,175,502
Perpetual convertible preferred shares    
LIABILITIES AND EQUITY    
Perpetual convertible preferred stock and common stock subject to redemption 125,000 125,000
Common stock subject to redemption    
LIABILITIES AND EQUITY    
Perpetual convertible preferred stock and common stock subject to redemption $ 105,745 $ 20,565
[1] See Note 9, Equity, for the number of shares outstanding of each class of common stock as of March 31, 2020.