RESTRICTED CASH

In order to qualify for like-kind exchange (“LKE”) treatment, the proceeds from real estate sales must be deposited with a third-party intermediary. These proceeds are accounted for as restricted cash until a suitable replacement property is acquired. In the event LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. As of June 30, 2018 and December 31, 2017, the Company had $69.6 million and $59.7 million, respectively, of proceeds from real estate sales classified as restricted cash which were deposited with an LKE intermediary as well as cash held in escrow for a real estate sale.

The following table contains the amounts of restricted cash recorded in the Consolidated Balance Sheets and Consolidated Statements of Cash Flows for the six months ended June 30, 2018:



	June 30, 2018
Restricted cash deposited with LKE intermediary	$69,088
Restricted cash held in escrow	550
Total restricted cash shown in the Consolidated Balance Sheets	69,638
Cash and cash equivalents	106,611
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows	$176,249