Restricted Cash

12 Months Ended

Dec. 31, 2018

Restricted Cash and Investments [Abstract]

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 that the LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. As of December 31, 2018 and 2017, the Company had $8.1 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 amount of restricted cash recorded in the Consolidated Balance Sheets and Consolidated Statements of Cash Flows for the years ended December 31:



	2018		2017
Restricted cash deposited with LKE intermediary		$7,530		$59,153
Restricted cash held in escrow	550		550
Total restricted cash shown in the Consolidated Balance Sheets	8,080		59,703
Cash and cash equivalents	148,374		112,653
Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows		$156,454		$172,356