Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Real estate investments, at cost:
Land and improvements		$ 835,542	$ 741,254
Building and improvements		1,723,811	1,519,665
Lease incentives		13,152	14,297
Construction in progress		4,329	3,908
Intangible lease assets		85,276	80,271
Total real estate investments, at cost		2,662,110	2,359,395
Less: accumulated depreciation and amortization		(165,731)	(136,097)
Total real estate investments, net		2,496,379	2,223,298
Loans and direct financing lease receivables, net		237,648	152,220
Real estate investments held for sale, net		6,349	17,058
Net investments		2,740,376	2,392,576
Cash and cash equivalents		126,465	26,602
Restricted cash		3,212	6,388
Straight-line rent receivable, net		47,739	37,830
Rent receivables, prepaid expenses and other assets, net		30,882	25,406
Total assets	[1]	2,948,674	2,488,802
LIABILITIES AND EQUITY
Secured borrowings, net of deferred financing costs		0	171,007
Unsecured term loans, net of deferred financing costs		626,628	626,272
Senior unsecured notes, net		394,955	0
Revolving credit facility		0	18,000
Intangible lease liabilities, net		10,465	10,168
Dividend payable		29,698	25,703
Derivative liabilities		23,169	38,912
Accrued liabilities and other payables		21,189	16,792
Total liabilities	[1]	1,106,104	906,854
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 June 30, 2021 and December 31, 2020		0	0
Common stock, $0.01 par value; 500,000,000 authorized; 117,982,993 and 106,361,524 issued and outstanding as of June 30, 2021 and December 31, 2020, respectively		1,181	1,064
Additional paid-in capital		1,955,450	1,688,540
Distributions in excess of cumulative earnings		(94,911)	(77,665)
Accumulated other comprehensive loss		(26,327)	(37,181)
Total stockholders' equity		1,835,393	1,574,758
Non-controlling interests		7,177	7,190
Total equity		1,842,570	1,581,948
Total liabilities and equity		$ 2,948,674	$ 2,488,802

[1] The Company’s consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIEs”). See Note 2—Summary of Significant Accounting Policies. As of June 30, 2021 and December 31, 2020, 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 $29.6 million and $25.6 million, respectively, of dividends payable.