Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Real estate investments, at cost:
Land and improvements		$ 686,908	$ 588,279
Building and improvements		1,423,033	1,224,682
Lease incentives		14,246	4,908
Construction in progress		7,239	12,128
Intangible lease assets		78,482	78,922
Total real estate investments, at cost		2,209,908	1,908,919
Less: accumulated depreciation and amortization		(124,489)	(90,071)
Total real estate investments, net		2,085,419	1,818,848
Loans and direct financing lease receivables, net		100,915	92,184
Real estate investments held for sale, net		9,582	1,211
Net investments		2,195,916	1,912,243
Cash and cash equivalents		183,765	8,304
Restricted cash		5,604	13,015
Straight-line rent receivable, net		35,247	25,926
Rent receivables, prepaid expenses and other assets, net		31,207	15,959
Total assets	[1]	2,451,739	1,975,447
LIABILITIES AND EQUITY
Secured borrowings, net of deferred financing costs		171,840	235,336
Unsecured term loans, net of deferred financing costs		626,119	445,586
Revolving credit facility		0	46,000
Intangible lease liabilities, net		8,589	9,564
Dividend payable		24,242	19,395
Derivative liabilities		43,504	4,082
Accrued liabilities and other payables		15,717	13,371
Total liabilities	[1]	890,011	773,334
Commitments and contingencies (see Note 11)		0	0
Stockholders' equity:
Preferred stock, $0.01 par value; 150,000,000 authorized; none issued and outstanding as of September 30, 2020 and December 31, 2019		0	0
Common stock, $0.01 par value; 500,000,000 authorized; 104,671,571 and 83,761,151 issued and outstanding as of September 30, 2020 and December 31, 2019, respectively		1,047	838
Additional paid-in capital		1,652,956	1,223,043
Distributions in excess of cumulative earnings		(57,767)	(27,482)
Accumulated other comprehensive loss		(41,768)	(1,949)
Total stockholders' equity		1,554,468	1,194,450
Non-controlling interests		7,260	7,663
Total equity		1,561,728	1,202,113
Total liabilities and equity		$ 2,451,739	$ 1,975,447

[1] The Company’s consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIEs”). See Note 2. As of September 30, 2020 and December 31, 2019, all of the assets and liabilities of the Company were held by its operating partnership, Essential Properties, L.P., a consolidated VIE, with the exception of $24.2 million and $19.3 million, respectively, of dividends payable.