CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real estate investments:
Land and improvements	$ 2,244,526	$ 2,283,929
Buildings and improvements	23,821,353	24,380,440
Construction in progress	505,188	461,354
Acquired lease intangibles	1,241,646	1,306,152
Operating lease assets	391,908	385,225
Gross real estate investments	28,204,621	28,817,100
Accumulated depreciation and amortization	(7,237,345)	(7,088,013)
Net real estate investment property	20,967,276	21,729,087
Secured loans receivable and investments, net	623,717	704,612
Investments in unconsolidated real estate entities	165,745	45,022
Net real estate investments	21,756,738	22,478,721
Cash and cash equivalents	2,848,115	106,363
Escrow deposits and restricted cash	38,144	39,739
Goodwill	1,050,137	1,051,161
Assets held for sale	75,039	91,433
Deferred income tax assets, net	47,495	47,495
Other assets	802,160	877,296
Total assets	26,617,828	24,692,208
Liabilities:
Senior notes payable and other debt	14,172,279	12,158,773
Accrued interest	87,245	111,115
Operating lease liabilities	250,357	251,196
Accounts payable and other liabilities	1,141,309	1,145,700
Liabilities related to assets held for sale	5,007	5,463
Deferred income tax liabilities	47,533	200,831
Total liabilities	15,703,730	13,873,078
Redeemable OP unitholder and noncontrolling interests	197,701	273,678
Commitments and contingencies
Ventas stockholders’ equity:
Preferred stock, $1.00 par value; 10,000 shares authorized, unissued	0	0
Common stock, $0.25 par value; 600,000 shares authorized, 373,094 and 372,811 shares issued at March 31, 2020 and December 31, 2019, respectively	93,256	93,185
Capital in excess of par value	14,135,657	14,056,453
Accumulated other comprehensive loss	(103,408)	(34,564)
Retained earnings (deficit)	(3,491,696)	(3,669,050)
Treasury stock, 22 and 2 shares at March 31, 2020 and December 31, 2019, respectively	(867)	(132)
Total Ventas stockholders’ equity	10,632,942	10,445,892
Noncontrolling interests	83,455	99,560
Total equity	10,716,397	10,545,452
Total liabilities and equity	$ 26,617,828	$ 24,692,208