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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 164,127 $ 168,954
Restricted cash 20,371 34,352
Real estate:    
Land 584,291 445,674
Building and improvements 4,082,595 3,112,253
Tenant origination and absorption cost 876,746 740,489
Construction in progress 21,517 11,886
Total real estate 5,565,149 4,310,302
Less: accumulated depreciation and amortization (940,323) (817,773)
Total real estate, net 4,624,826 3,492,529
Intangible assets, net 44,475 10,035
Deferred rent receivable 109,535 98,116
Deferred leasing costs, net 45,795 45,966
Goodwill 229,948 229,948
Due from affiliates 273 1,411
Right of use asset 39,829 39,935
Other assets 32,224 30,604
Total assets 5,311,403 4,151,850
LIABILITIES AND EQUITY    
Debt, net 2,534,003 2,140,427
Restricted reserves 11,527 12,071
Interest rate swap liability 33,803 53,975
Redemptions payable 5,331 5,345
Distributions payable 12,042 9,430
Due to affiliates 2,055 3,272
Intangible liabilities, net 32,405 27,333
Lease liability 50,809 45,646
Accrued expenses and other liabilities 109,579 114,434
Total liabilities 2,791,554 2,411,933
Commitments and contingencies
Noncontrolling interests subject to redemption; 556,099 units as of September 30, 2021 and December 31, 2020 4,702 4,610
Stockholders’ equity:    
Common stock, $0.001 par value; 800,000,000 shares authorized; 323,910,617 and 230,320,668 shares outstanding in the aggregate as of September 30, 2021 and December 31, 2020, respectively 324 230
Additional paid-in capital 2,952,220 2,103,028
Cumulative distributions (893,856) (813,892)
Accumulated earnings 140,970 140,354
Accumulated other comprehensive loss (29,819) (48,001)
Total stockholders’ equity 2,169,839 1,381,719
Noncontrolling interests 220,308 226,550
Total equity 2,390,147 1,608,269
Total liabilities and equity 5,311,403 4,151,850
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 $ 0 $ 2,038